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Selected data (in thousands) from the income statement of Uli Inc. are shown below. Using vertical analysis, calculate the percentage of the base amount for
Selected data (in thousands) from the income statement of Uli Inc. are shown below. Using vertical analysis, calculate the percentage of the base amount for each year. (Round answers to 1 decimal place, e.g. 5.2%.)
2018 | 2017 | ||||||
Amount | Percentage | Amount | Percentage | ||||
Net sales | $1,919 | % | $2,090 | % | |||
Cost of goods sold | 1,613 | % | 1,681 | % | |||
Gross profit | 306 | % | 409 | % | |||
Operating expenses | 216 | % | 211 | % | |||
Income before income tax | 90 | % | 198 | % | |||
Income tax expense | 18 | % | 40 | % | |||
Profit | $72 | % | $158 | % |
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