Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Operating data for Pina Colada Corp. are presented below. Sales revenue Cost of goods sold 2022 2021 $850,900 $622,200 527,000 414,200 125,300 73,200 73,100 50,300

image text in transcribed
image text in transcribed
Operating data for Pina Colada Corp. are presented below. Sales revenue Cost of goods sold 2022 2021 $850,900 $622,200 527,000 414,200 125,300 73,200 73,100 50,300 Selling expenses Administrative expenses Income tax expense 37,100 88,400 23,000 61,500 Net income Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, es. 12.1%) PINA COLADA CORP. Condensed Income Statement 2022 2021 Amount Percent Amount Percent Sales % $622,200 $850,900 527,000 Cost of goods sold 414,200 Gross profit 323,900 208,000 Selling expenses 125,300 73,200 Adieninista 72412 50200 Amount Percent Amount Percent Sales $850,900 $622 200 Cost of goods sold 527,000 414.200 Gross profit 323,900 208,000 Selling expenses 125,300 73,200 Administrative expenses 73,100 50,300 Total operating expenses 198,400 123,500 Income before income taxes 125,500 84,500 Income tax expense 37.100 23,000 Net income $88.400 $ 61,500

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Charles E. Davis, Elizabeth Davis

2nd edition

1118548639, 9781118800713, 1118338448, 9781118548639, 1118800710, 978-1118338445

More Books

Students also viewed these Accounting questions