Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

SAP S/4 HANA For Financial Accounting Associates SAP Certified Application Associate

Authors: D Jacobs ,S Matiana

1st Edition

1545316171, 978-1545316177

More Books

Students also viewed these Accounting questions