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Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.) CHEYENNE CORP. Condensed Income Statement choose
Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.)
CHEYENNE CORP. Condensed Income Statement choose the accounting period December 31For the Month Ended December 31For the Years Ended December 31 | |||||||||
---|---|---|---|---|---|---|---|---|---|
2022 | 2021 | ||||||||
Amount | Percent | Amount | Percent | ||||||
Sales | $810,000 | enter sales as a percentage | % | $590,000 | enter sales as a percentage | % | |||
Cost of goods sold | 538,650 | enter cost of goods sold as a percentage | % | 423,030 | enter cost of goods sold as a percentage | % | |||
Gross profit | 271,350 | enter gross profit as a percentage | % | 166,970 | enter gross profit as a percentage | % | |||
Selling expenses | 116,640 | enter selling expenses as a percentage | % | 70,800 | enter selling expenses as a percentage | % | |||
Administrative expenses | 59,940 | enter administrative expenses as a percentage | % | 51,330 | enter administrative expenses as a percentage | % | |||
Total operating expenses | 176,580 | enter total operating expenses as a percentage | % | 122,130 | enter total operating expenses as a percentage | % | |||
Income before income taxes | 94,770 | enter income before income taxes as a percentage | % | 44,840 | enter income before income taxes as a percentage | % | |||
Income tax expense | 28,350 | enter income tax expenses as a percentage | % | 24,190 | enter income tax expenses as a percentage | % | |||
Net income | $ 66,420 | enter net income as a percentage | % | $ 20,650 | enter net income as a percentage | % |
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