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Solve the following sums Income statement for Mars for 2018 and 2019 follows: Particulars 2019 ($) 2018 ($) Sales 250,000 180,000 Cost of Goods sold

Solve the following sums

Income statement for Mars for 2018 and 2019 follows:

Particulars

2019 ($)

2018 ($)

Sales

250,000

180,000

Cost of Goods sold

140,000

110,000

Income before taxes

25000

25000

Income Tax expenses

4000

3000

Selling expenses

20,000

19,000

Interest expenses

3,500

4,500

Required:

Perform a Vertical Analysis showing each income statement component as a percent of sales for each year.

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