Condensed data from the income statement for Toy Co Corporation follow: (a) Using vertical analysis,...
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Condensed data from the income statement for Toy Co Corporation follow: (a) Using vertical analysis, calculate the percentage of the base amount for each year. (Round answers to 1 decimal place, e.g. 15.2%) TOY CO CORPORATION Vertical Analysis of Income Statement 2018 2017 Amount Percent Amount Percent Net sales 794,000 553,000 241,000 154,000 596,000 % 371.000 % 225,000 126,000 % 99,000 Cost of goods sold Gross proft Operating expenses Income before income tax Income tax expense Net income 87,000 15,000 $72,000 % 18,000 % $81,000 eTextbook and Media
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