(b)Prepare a vertical analysis of the income statement data for Oriole Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.)ORIOLE CORPORATIONCondensed Income Statementschoose the accounting period For the Years Ended December 31For the Month Ended December 31December 31 2022 2021 $ Percent $ PercentNet sales$632,300 enter percentages rounded to 1 decimal place% $544,800 enter percentages rounded to 1 decimal place%Cost of goods sold456,600 enter percentages rounded to 1 decimal place% 415,500 enter percentages rounded to 1 decimal place%Gross Profit175,700 enter percentages rounded to 1 decimal place% 129,300 enter percentages rounded to 1 decimal place%Operating expenses74,100 enter percentages rounded to 1 decimal place% 44,500 enter percentages rounded to 1 decimal place%Net income$ 101,600 enter percentages rounded to 1 decimal place% $ 84,800 enter percentages rounded to 1 decimal place%

Name: (b)Prepare a vertical analysis of the income statement data for Oriole
Uploaded: 2024-03-20T06:32:37.000Z
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Description: (b)Prepare a vertical analysis of the income statement data for Oriole Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.)ORIOLE CORPORATIONCondensed Income Statementschoose the accounting period

vertical analysis is to show that the relative sizes of different accounts on a financial statement…

Answered: (b) Prepare a vertical analysis of the…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 40E: Cuneo Companys income statements for the last 3 years are as follows: Refer to the information for...

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(b)

Prepare a vertical analysis of the income statement data for Oriole Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.)

ORIOLE CORPORATION Condensed Income Statements choose the accounting period For the Years Ended December 31For the Month Ended December 31December 31
	2022	2021
	$	Percent		$		Percent
Net sales	$632,300	enter percentages rounded to 1 decimal place	%		$544,800		enter percentages rounded to 1 decimal place	%
Cost of goods sold	456,600	enter percentages rounded to 1 decimal place	%		415,500		enter percentages rounded to 1 decimal place	%
Gross Profit	175,700	enter percentages rounded to 1 decimal place	%		129,300		enter percentages rounded to 1 decimal place	%
Operating expenses	74,100	enter percentages rounded to 1 decimal place	%		44,500		enter percentages rounded to 1 decimal place	%
Net income	$ 101,600	enter percentages rounded to 1 decimal place	%		$ 84,800		enter percentages rounded to 1 decimal place	%

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