Prepare a vertical analysis of the income statement

Assignment Help Accounting Basics
Reference no: EM132234173

Question - The following data relate to bravo company for the year 2018:

Sales 800,000

Cost of Goods Sold 480,000

Gross profit 320,000

Operating expenses:

Selling 40,000

Administrative 80,000

Profit before income tax 200,000

Income tax expense 60,000

Profit 140,000

Required:

A. Prepare a vertical analysis of the income statement.

B. What additional information would you need to determine if the percentages are good or bad?

Reference no: EM132234173

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