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Table 4-1, Income Statement: January/February January February Total Revenues 46,062 44,759 Returns & Allowances 545 685 Net Sales 45,517 44,074 Cost of Goods Sold 13,841

Table 4-1, Income Statement: January/February

January

February

Total Revenues

46,062

44,759

Returns & Allowances

545

685

Net Sales

45,517

44,074

Cost of Goods Sold

13,841

11,583

Gross Profit

31,676

32,491

Operating Expenses

Officers Salary

2,500

2,500

Salaries

15,750

14,250

Payroll Taxes

3,623

3,278

Rent

2,000

2,000

Janitorial

150

150

Utilities

512

485

Depreciation

500

500

Sales Taxes

2,994

2,909

Total Operating Expenses

28,029

26,072

Operating Profit/Loss

3,647

6,419

Interest Expense

150

150

Net Profit/Loss

3,497

6,269

Refer to Table 4-1. Using horizontal analysis, payroll taxes ______ by approximately ______ percent.

Refer to Table 4-1. Using horizontal analysis, net profit ________ by approximately ______ percent.

Refer to Table 4-1. Using a vertical analysis of January data, cost of goods sold was approximately ___ percent.

Refer to Table 4-1. Using a vertical analysis of January data, cost of goods sold was approximately ___ percent.

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