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Income statements for Walton Company for Year 3 and Year 4 follow. WALTON COMPANY Income Statements Year 4 Sales $201,300 Cost of goods sold 143,600
Income statements for Walton Company for Year 3 and Year 4 follow. WALTON COMPANY Income Statements Year 4 Sales $201,300 Cost of goods sold 143,600 Selling expenses 20,600 Administrative expenses 12,100 Interest expense 3,900 Total expenses $180,200 Income before taxes 21,100 Income taxes expense 5,400 Net income $15,700 Year 3 $181,300 121,600 18,600 14,100 5,900 $160,200 21,100 3,400 $17,700 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., 0.234 should be entered as 23.4).) WALTON COMPANY Vertical Analysis of Income Statements Percentage of Percentage of Sales Year 4 Sales Year 3 Sales % % Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income % %
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