Using the income statement information for Omega Corporation that follows, prepare a vertical analysis of the...
Using the income statement information for Omega Corporation that follows, prepare a vertical analysis of the income statement for Omega Corporation. If required, round percentages to one decimal place. Percentage sign will appear automatically.
|
Omega Corporation |
|
Income Statement |
|
1 |
Amount |
Percentage |
|
|
2 |
Sales |
$690,000.00 |
|
|
3 |
Cost of goods sold |
372,600.00 |
|
|
4 |
Gross profit |
$317,400.00 |
Homework Answers
sing the income statement information for Omega Corporation that follows, prepare a vertical analysis of the income statement for Omega Corporation. If required, round percentages to one decimal place. Percentage sign will appear automatically.
|
Omega Corporation |
|
Income Statement |
|
1 |
Amount |
Percentage |
|
|
2 |
Sales |
$690,000.00 |
690000/690000 = 100% |
|
3 |
Cost of goods sold |
372,600.00 |
372600/690000 = 54% |
|
4 |
Gross profit |
$317,400.00 |
317400/690000 = 46% |
Cost of goods sold percentage = Cost of goods sold/Sales revenue
Gross profit percentage = Gross profit/sales revenue
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