Operating data for Flint Corporation are presented below. 2022 2021 Sales revenue $829,000 $648,900 Cost of goods sold 530,600 413,800 Selling expenses 123,300 73,400 Administrative expenses 74,100 52,400 Income tax expense 34,400 26,600 Net income 66,600 82,700 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg. 12.1%.) FLINT CORPORATION Condensed Income Statement 2022 2021 Amount Percent Amount Percent Sales $829,000 $648,900 Cost of goods sold 530,600 413,800 Gross profit 298,400 235,100 Selling expenses 123,300 73,400 rch PrtSc Insert F4 F5 F6 F7 F8 F9 F10 F11 F12 Es 24 & ) 4. 5 8 T Y. + II
Operating data for Flint Corporation are presented below. 2022 2021 Sales revenue $829,000 $648,900 Cost of goods sold 530,600 413,800 Selling expenses 123,300 73,400 Administrative expenses 74,100 52,400 Income tax expense 34,400 26,600 Net income 66,600 82,700 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg. 12.1%.) FLINT CORPORATION Condensed Income Statement 2022 2021 Amount Percent Amount Percent Sales $829,000 $648,900 Cost of goods sold 530,600 413,800 Gross profit 298,400 235,100 Selling expenses 123,300 73,400 rch PrtSc Insert F4 F5 F6 F7 F8 F9 F10 F11 F12 Es 24 & ) 4. 5 8 T Y. + II
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.17E: Profitability metrics The following selected data were taken from the financial statements of The...
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