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Vertical analysis (common size) percentages for Kochheim Companys sales, cost of goods sold, and expenses are shown below. Vertical Analysis 2015 2014 2013 Sales 100.0

Vertical analysis (common size) percentages for Kochheim Companys sales, cost of goods sold, and expenses are shown below.

Vertical Analysis 2015 2014 2013

Sales 100.0 100.0 100.0

Cost of goods sold 47.2 50.1 52.4

Expenses 24.3 24.4 27.1

(a)Calculate net income.

2015 2014 2013

Net income

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Vertical Analysis	2015	2014	2013
Sales	100.0	100.0	100.0
Cost of goods sold	47.2	50.1	52.4
Expenses	24.3	24.4	27.1

Question

Vertical analysis (common size) percentages for Kochheim Companys sales, cost of goods sold, and expenses are shown below. Vertical Analysis 2015 2014 2013 Sales 100.0

Vertical analysis (common size) percentages for Kochheim Companys sales, cost of goods sold, and expenses are shown below. Vertical Analysis 2015 2014 2013 Sales 100.0 100.0 100.0 Cost of goods sold 47.2 50.1 52.4 Expenses 24.3 24.4 27.1 (a)Calculate net income. 2015 2014 2013 Net income

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Auditing Cases An Active Learning Approach

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Vertical analysis (common size) percentages for Kochheim Companys sales, cost of goods sold, and expenses are shown below.

Vertical Analysis 2015 2014 2013

Sales 100.0 100.0 100.0

Cost of goods sold 47.2 50.1 52.4

Expenses 24.3 24.4 27.1

(a)Calculate net income.

2015 2014 2013

Net income