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25. Perfom a vertical analysis on the Income statements of Sports Emporium and All Sports. All Sports Sports Emp Sales COGS Gross profit Operating expenses Operating Income Other income (expense) Income before tax Income tax expense Net income 3,200,000 2,050,000 1,150,000 760,000 390,000 8,000 398,000 95,000 303,000 2,420,000 1,330,000 1,090,000 590,000 500,000 5,000 505,000 130,000 375,000 A net loss will be the result during a month when: a. Assets are greater than liabilities b. Assets are greater than revenues 26. Expenses are greater than revenues Revenues are greater than revenues A company makes a credit sale of $700 on June 13th, terms 2/10, n30. The company acceptsa return of $75 on June 16th. Make the journal entry to record the receipt of full payment on June 20th. 27