Vertical Analysis

Income statement information for Ivanoff Corporation follows:

Sales

$$222,000$

Cost of goods sold

$57,720$

Gross profit

$164,280$

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

Ivanoff Corporation

Vertical Analysis of the Income Statement

$\backslash$table$[[,$Amount,Percentage$],[$Sales$,$$$222,000,\%$