The question asked to prepare only vertical analysis. Below is the vertical analysis:
amount ($) | vertical analysis | |||
2019 | 2018 | 2019 | 2018 | |
sales | 700000 | 600000 | 100.00% | 100.00% |
cost of sales | -524300 | -420000 | -74.90% | -70.00% |
gross profit | 175700 | 180000 | 25.10% | 30.00% |
operating expenses | ||||
salaries and wages | -47290 | -100000 | -6.76% | -16.67% |
rent expense | -20256 | -20000 | -2.89% | -3.33% |
depreciation expense | -20000 | -10000 | -2.86% | -1.67% |
income from operations | 88154 | 50000 | 12.59% | 8.33% |
loss from sale of equipment | -5213 | 0 | -0.74% | 0.00% |
interest expense | -3656 | -5000 | -0.52% | -0.83% |
income before taxes | 79285 | 45000 | 11.33% | 7.50% |
income tax | -23786 | -13500 | -3.40% | -2.25% |
net income | 55500 | 31500 | 7.93% | 5.25% |
Using vertical analysis, prepare an income statement. (this is all the information given) (indirect method) thats...
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