Question
Income statement information for Einsworth Corporation follows: Sales $407,000 Cost of goods sold 134,310 Gross profit 272,690 Prepare a vertical analysis of the income statement
Income statement information for Einsworth Corporation follows:
| Sales | $407,000 | |
| Cost of goods sold | 134,310 | |
| Gross profit | 272,690 |
Prepare a vertical analysis of the income statement for Einsworth Corporation. If required, round percentage answers to the nearest whole number.
| Einsworth Corporation | ||
| Vertical Analysis of the Income Statement | ||
| Amount | Percentage | |
| Sales | $407,000 | % |
| Cost of goods sold | 134,310 | |
| Gross profit | $272,690 | % |
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Advanced Financial Accounting
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
10th edition
78025621, 978-0078025624
