Operating data for Flint Corporation are presented below. 2022 2021 Sales revenue $829,000 $648,900 Cost of goods sold 530,600 413,800 Selling expenses 123,300 73,400 Administrative expenses 74,100 52,400 Income tax expense 34,400 26,600 Net income 66,600 82,700 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg. 12.1%.) FLINT CORPORATION Condensed Income Statement 2022 2021 Amount Percent Amount Percent Sales $829,000 $648,900 Cost of goods sold 530,600 413,800 Gross profit 298,400 235,100 Selling expenses 123,300 73,400 rch PrtSc Insert F4 F5 F6 F7 F8 F9 F10 F11 F12 Es 24 & ) 4. 5 8 T Y. + II

Operating data for Flint Corporation are presented below. 2022 2021 Sales revenue $829,000 $648,900 Cost of goods sold 530,600 413,800 Selling expenses 123,300 73,400 Administrative expenses 74,100 52,400 Income tax expense 34,400 26,600 Net income 66,600 82,700 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg. 12.1%.) FLINT CORPORATION Condensed Income Statement 2022 2021 Amount Percent Amount Percent Sales $829,000 $648,900 Cost of goods sold 530,600 413,800 Gross profit 298,400 235,100 Selling expenses 123,300 73,400 rch PrtSc Insert F4 F5 F6 F7 F8 F9 F10 F11 F12 Es 24 & ) 4. 5 8 T Y. + II

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Current Attempt in Progress Operating data for Grouper Corp. are presented as follows. Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2022 $840,000 540,120 133,560 57,120 31,920 77,280 2021 $610,000 405,650 80,520 46,970 26,840 50,020 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.)
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