Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 20 Aug 2017 My Price 5.00

Gresham Inc

Vertical analysis of income statement

Revenue and expense data for Gresham Inc. for two recent years are as follows:

 

                                                                                              Current Year             Previous Year    

 

 

 

Sales $2,500,000 $2,350,000 Cost of goods sold 1,500,000 1,292,500 Selling expenses 300,000 376,000 Administrative expenses 375,000 305,500 Income tax expense 150,000 141,000  

 

 

a.     Prepare an income statement in comparative form, stating each item for both years  as a percent of sales. Round to one decimal place.

b.    Comment on the significant changes disclosed by the comparative income statement.

Answers

Maurice Tutor
(5)
Status NEW Posted 20 Aug 2017 08:08 PM My Price 5.00

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