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Lassiter Company reported the following information for the current year and prior year: Account Net sales revenue COGS Gross Profit Selling/General Exp. Net income before
Lassiter Company reported the following information for the current year and prior year: Account Net sales revenue COGS Gross Profit Selling/General Exp. Net income before tax Income Tax Net Income Current year Percentage Prior year $367,200 100% $300,000 $214,320 ? $240,000 $152,880 41.63% $60,000 $69,768 19.00% $12,000 $83,112 ? $48,000 $7,344 2.00% $3,000 $75,768 ? $45,000 What would a vertical analysis report with respect to the relationship between current year net sales revenue and COGS? A. COGS was 58.37% of net sales revenue B. An increase of $25,680 from prior to current year C. An 10.70% decrease from prior to current year D. An increase of $152,880 from prior to current year
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