Vertical analysis

Income statement information for Einsworth Corporation follows:

Line Item Description

Amount Sales $1,500,000

Cost of goods sold 900,000

Gross profit 600,000

Prepare a vertical analysis of the income statement for Einsworth Corporation. If required, round percentage answers to the nearest whole number.

Einsworth Corporation Vertical Analysis of the Income Statement.

Line Item Description: Amount Percentage

Sales $1,500,000 %?

Cost of goods sold 900,000

Gross profit $600,000 %?