Movens Company gathered the following data (in millions) for the past two years:Net revenues.....................................Cost of goods sold............................Gross profit.......................................Operating expenses...........................Operating income.............................2019$280$150$130$ 90$ 402018$250$140$110$ 75$ 35In a vertical analysis of 2019, the gross profit percentage would be closest toa. 18%.b. 46%.c. 100%.d. 325%.

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...
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Movens Company gathered the following data (in millions) for the past two years:
Net revenues.....................................
Cost of goods sold............................
Gross profit.......................................
Operating expenses...........................
Operating income.............................
2019
$280
$150
$130
$ 90
$ 40
2018
$250
$140
$110
$ 75
$ 35
In a vertical analysis of 2019, the gross profit percentage would be closest to
a. 18%.
b. 46%.
c. 100%.
d. 325%.

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