Q4:

The president of Best Car Parts, Inc. has asked you to compare the company's profit performance and financial position with the averages for the industry. The accounting office has given you the company's income statement and balance sheet, as well as the industry average data for competitors: (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) Required 1. Prepare a vertical analysis for Best for both its income statement and balance sheet. 2. Compare the company's gross margin percentage (gross margin as a percent of net sales) with the average for the industry. Comment on its investment in assets compared to the industry information shown. Requirement 1. Prepare a vertical analysis for Best for both its income statement and balance sheet. Begin by preparing a vertical analysis for Best for its income statement. (Round the percent of total amounts to one decimal place, X.X%.) The president of Best Car Parts, Inc. has asked you to compare the company's profit performance and financial position with the averages for the industry. The accounting office has given you the company's income statement and balance sheet, as well as the industry average data for competitors: (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) Required 1. Prepare a vertical analysis for Best for both its income statement and balance sheet. 2. Compare the company's gross margin percentage (gross margin as a percent of net sales) with the average for the industry. Comment on its investment in assets compared to the industry information shown. Income Statement Balance Sheet