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The income statements for Federer Sports Apparel for 2022 and 2021 are presented below. Required: Prepare a vertical analysis of the data for 2022 and
The income statements for Federer Sports Apparel for 2022 and 2021 are presented below. Required: Prepare a vertical analysis of the data for 2022 and 2021. (Round your percentage answers to 1 decimal place.) FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 2022 + 2021 Amount % Amount % Net sales $ $ Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax 16,100,000 7.373,800 8,726,200 1,336,300 1,143,100 19,400,000 12,920,400 6,479,600 1,765,400 1,144,600 329,800 1,668,400 1,571,400 582,000 989,400 0 289,800 5,957,000 2,173,500 3,783,500 Income tax expense Net income $ $
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