using the following income statements, perform the calculations needed for vertical analyses ...
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using the following income statements, perform the calculations needed for vertical analyses
Saved Using the following income statements, perform the calculations needed for vertical analyses. (Round percentage values to 1 decimal place.) % LOCKEY FENCING CORPORATION Income Statements For the Years Ended December 31 Current Net Sales $ 190,000 Cost of Goods Sold 94,000 Gross Profit 96,000 Selling, General, and Administrative Expenses 14,400 Income from Operations 81,600 Interest Expense 4,800 Income before Income Tax 76,800 Income Tax Expense 23,040 Net Income $ 53,760 Previous $ 129,000 72,000 57,000 8,100 T 48,900 6,450 42,450 12,735 $ 29,715 %
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