Using the following operating data for Complex Corporation, prepare a schedule showing a vertical analysis for 2020. (Round percentage answers to 1 decimal place, e.g. 15.2.)     2020   Percentage     2019 Net sales   $360,000     %   $320,000 Cost of goods sold   210,000     %   180,000 Gross profit         %     Operating expenses   112,000     %   100,000 Net income   38,000     %   40,000

Question

Using the following operating data for Complex Corporation, prepare a schedule showing a vertical analysis for 2020. (Round percentage answers to 1 decimal place, e.g. 15.2.)

    2020   Percentage     2019
Net sales   $360,000  
 
%   $320,000
Cost of goods sold   210,000  
 
%   180,000
Gross profit  
 
 
 
%    
Operating expenses   112,000  
 
%   100,000
Net income   38,000  
 
%   40,000

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