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The income statements for Company A for Year 2 and Year 1 are presented below. Required: Prepare a vertical analysis of the data for Year
The income statements for Company A for Year 2 and Year 1 are presented below. Required: Prepare a vertical analysis of the data for Year 2 and Year 1. (Round your percentage answers to 1 decimal place.) COMPANY A Income Statement For the Years Ended December 31 Year 2 Year 1 Amount % Amount % Net sales $ $ 19,200,000 13,017,600 6,182,400 1,708,800 Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax 15,900,000 7,250,400 8,649,600 1,287,900 1,097,100 0 1,094,400 288,000 1,612,800 1,478,400 537,600 940,800 365,700 5,898,900 2,114,700 3,784,200 Income tax expense Net income $ $
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