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Prepare a vertical analysis for both years, using the following chart. 2021 2020 2021 Percent 2020 Percent Net sales $600,000 $500,000 Cost of goods sold

  • Prepare a vertical analysis for both years, using the following chart.

2021

2020

2021

Percent

2020

Percent

Net sales

$600,000

$500,000

Cost of goods sold

483,000

420,000

Gross profit

117,000

80,000

Operating expenses

57,200

44,000

Net income

$59,800

$36,000

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