Please help me Operating data for Swifty Corporation are presented as follows.20222021$830,700$634,900Sales revenue531,648412,685Cost of goods sold124,60576,188Selling expensesAdministrative expenses74,76350,79233,22825,396Income tax expense66,45669,839Net incomePrepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg 12.1%)SWIFTY CORPORATIONCondensed Income Statement20212022AmountPercentAmountPercentSales$830,700$634.900Cost of goods sold531.648412,685Gross profit299.052222.215Selling expenses124.60576,188Administrative expenses74,76350,792Total operating expenses199,368126,980Income before income taxes99,68495 235Income tax expense33,22825,396Net income$ 66,456$ 69 839

The question is based on the concept of Cost Accounting.

Prepare a schedule showing a vertical analysis for 2022 and 20 SWIFTY CORPORATION Condensed Income Statement 2021 2022 Amount Percent Amount Percent $830,700 $634.900 Sales Cost of goods sold 531.648 412,685 Gross profit 299.052 222,215 Selling expenses 124.605 76,188 Administrative experses 74.763 50,792 Total operating expenses 199.368 126,980

Prepare a schedule showing a vertical analysis for 2022 and 20 SWIFTY CORPORATION Condensed Income Statement 2021 2022 Amount Percent Amount Percent $830,700 $634.900 Sales Cost of goods sold 531.648 412,685 Gross profit 299.052 222,215 Selling expenses 124.605 76,188 Administrative experses 74.763 50,792 Total operating expenses 199.368 126,980

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter3: The Adjusting Process

Section: Chapter Questions

Problem 3.4ADM

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