Vertical Analysis Income statement information for Ivanoff Corporation follows: Sales $260,000 Cost of goods sold 80,600 Gross profit 179,400 Prepare a vertical analysis of the income statement for Ivanoff Corporation. If required, round percentage answers to the nearest whole number. Ivanoff Corporation Vertical Analysis of the Income Statement Amount Percentage Sales $260,000 % Cost of goods sold 80,600 % Gross profit $179,400 %

Vertical Analysis Income statement information for Ivanoff Corporation follows: Sales $260,000 Cost of goods sold 80,600 Gross profit 179,400 Prepare a vertical analysis of the income statement for Ivanoff Corporation. If required, round percentage answers to the nearest whole number. Ivanoff Corporation Vertical Analysis of the Income Statement Amount Percentage Sales $260,000 % Cost of goods sold 80,600 % Gross profit $179,400 %

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 9.1E

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