Question
Operating data for Bridgeport Corp. are presented below. 2022 2021 Sales revenue $826,200 $641,300 Cost of goods sold 523,300 414,500 Selling expenses 121,800 78,500 Administrative
Operating data for Bridgeport Corp. are presented below.
2022 | 2021 | |||
---|---|---|---|---|
Sales revenue | $826,200 | $641,300 | ||
Cost of goods sold | 523,300 | 414,500 | ||
Selling expenses | 121,800 | 78,500 | ||
Administrative expenses | 77,100 | 51,300 | ||
Income tax expense | 36,600 | 25,700 | ||
Net income | 67,400 | 71,300 |
Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.)
BRIDGEPORT CORP. Condensed Income Statement choose the accouning periodFor the Month Ended December 31For the Years Ended December 31December 31 For the Years Ended December 31December 31For the Month Ended December 31 | |||||||||
---|---|---|---|---|---|---|---|---|---|
2022 | 2021 | ||||||||
Amount | Percent | Amount | Percent | ||||||
Sales | $826,200 | enter percentages | % | $641,300 | enter percentages | % | |||
Cost of goods sold | 523,300 | enter percentages | % | 414,500 | enter percentages | % | |||
Gross profit | 302,900 | enter percentages | % | 226,800 | enter percentages | % | |||
Selling expenses | 121,800 | enter percentages | % | 78,500 | enter percentages | % | |||
Administrative expenses | 77,100 | enter percentages | % | 51,300 | enter percentages | % | |||
Total operating expenses | 198,900 | enter percentages | % | 129,800 | enter percentages | % | |||
Income before income taxes | 104,000 | enter percentages | % | 97,000 | enter percentages | % | |||
Income tax expense | 36,600 | enter percentages | % | 25,700 | enter percentages | % | |||
Net income | $ 67,400 | enter percentages | % | $ 71,300 | enter percentages | % |
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