Question
PQR Corp's income statement for the year is as follows: Item Amount ($) Revenue $1,000,000 Cost of Goods Sold $400,000 Gross Profit $600,000 Operating Expenses
PQR Corp's income statement for the year is as follows:
Item Amount ($) Revenue $1,000,000 Cost of Goods Sold $400,000 Gross Profit $600,000 Operating Expenses $300,000 Net Income $250,000 Perform vertical analysis on the income statement and express each item as a percentage of revenue.
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Survey of Accounting
Authors: Thomas Edmonds, Christopher, Philip Olds, Frances McNair, Bor
4th edition
77862376, 978-0077862374
