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How do I find Required B? Income statements for Adams Company for 2018 and 2019 follow: ADAMS COMPANY Income Statements Sales Cost of goods sold
How do I find Required B?
Income statements for Adams Company for 2018 and 2019 follow: ADAMS COMPANY Income Statements Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense 2019 $ 200, 100 143,400 20,900 13,000 3,800 $181,100 19,000 6,500 $ 12,500 2018 $180, 100 121,400 18,900 15,000 5,800 $161,100 19,000 3,400 Net income $ 15,600 Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between 2018 and 2019. b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year. Complete this question by entering your answers in the tabs below. Required A Required B Perform a vertical analysis, showing each income statement component as a percentage of sales for each year. (Percentages may not add exactly due to rounding. Round your answers to 1 decimal place. i.e., .234 should be entered as 23.4).) ADAMS COMPANY Vertical Analysis of Income Statements Percentage of Percentage of Sales 2019 Sales 2018 Sales % % Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income % %Step by Step Solution
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