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Operating data for Sheffield Corp. are presented below.

2020 2019
Sales revenue $720,000 $600,000
Cost of goods sold 501,120 424,200
Selling expenses 111,600 75,000
Administrative expenses 59,040 43,800
Income tax expense 28,800 24,600
Net income 19,440 32,400

Required:
Prepare a schedule showing a vertical analysis for 2020 and 2019.

Respuesta :

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Answer:

                                                  2020 %            2019 %

Sales revenue                      720000 100% 600000 100%

Cost of goods sold               501120 70%         424200 71%

Gross profit                               218880 30%          175800 29%

Selling expenses                        111600 16%           75000 13%

Administrative expenses        59040 8%           43800 7%

Operating income                        48240 7%           57000 10%

Income tax expense                28800 4%           24600 4%

Net income                                 19440 3%           32400 5%