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Vertical analysis of income statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Innovation Quarter Inc. Comparative Income

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Vertical analysis of income statement
Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows:
Innovation Quarter Inc.
Comparative Income Statement
For the Years Ended December 31
b. The vertical analysis indicates that the cost of goods sold as a percent of sales
by 5 percentage points.
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