Use the following to answer questions ( 8,9 ) The following percentages are taken from the vertical analysis from income statement and balance sheet of company (X): Gross Margin = 58% Office Rent = 6% Salaries and Wages = 32% Utilities = 5% Account Payable = 20% Fixed Assets = 30% Cash = 15% Accounts Receivables = 48% Inventory = ? Costs of Goods Sold = ?

8.The percentage of cost of goods sold equals:Required to answer. Single choice.

(3 Points)

57%

12%

42%

37%

9.The percentage of inventory equals:Required to answer. Single choice.

(2 Points)

37%

7%

80%

17%