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Problem 12-1B Perform vertical analysis (LO12-1) Game-On Sports operates in two distinct segments: athletic equipment and accessories. The income statement for each operating segment is
Problem 12-1B Perform vertical analysis (LO12-1) Game-On Sports operates in two distinct segments: athletic equipment and accessories. The income statement for each operating segment is presented below. Required: 1. Complete the "%" columns to be used in a vertical analysis of Game-On Sports' two operating segments. Express each amount as a percentage of sales. (Round your percentage answers to 1 decimal place.) Net sales Cost of goods sold Gross profit Operating expenses Operating income Other income (expense) Income before tax Income tax expense Not income GAME-ON SPORTS Income Statement For the Year Ended December 31, 2021 Athletic Equipment Accessories Amount Amount $ 2,850,0001 $ 3,300,000 1,270,000 1,630,000 1,580,000 1,670,000 670,000 720,000 910,000 950,000 76,000 (11.000) 980,000 939,000 227.000 202,000 750,000 737,000 2. Use vertical analysis to compare the profitability of the two operating segments. Which segment is more profitable? Athletic equipment Accessories
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