*Please show formula MARIGOLD CORP. Condensed Income Statements For the Month En
ID: 2334291 • Letter: #
Question
*Please show formula
MARIGOLD CORP.
Condensed Income Statements
For the Month Ended December 31December 31For the Years Ended December 31
2017
2016
$
Percent
$
Percent
Net sales
$ 613,800
%
$ 556,000
%
Cost of goods sold
457,400
%
437,400
%
Gross Profit
156,400
%
118,600
%
Operating expenses
73,400
%
41,900
%
Net income
$ 83,000
%
$ 76,700
%
MARIGOLD CORP.
Condensed Income Statements
For the Month Ended December 31December 31For the Years Ended December 31
2017
2016
$
Percent
$
Percent
Net sales
$ 613,800
%
$ 556,000
%
Cost of goods sold
457,400
%
437,400
%
Gross Profit
156,400
%
118,600
%
Operating expenses
73,400
%
41,900
%
Net income
$ 83,000
%
$ 76,700
%
Explanation / Answer
vertical analysis for the data will be prepared by taking net sales as the base amount:
formula = item analysed / net sales * 100
(item analysed are net sales, cost of goods sold, gross profit, operating expenses, net income)
2017 2016 $ % $ % net sales 613,800 (613,800/613,800*100) =>100% 556,000 (556,000/556,000*100)=>100% cost of goods sold 457,400 (457,400/613,800*100)=>74.52% 437,400 (437,400/556,000*100)=>78.67% gross profit 156,400 (156,400/613,800*100)=>25.48% 118,600 (118,600/556,000*100)=>21.33% operating expenses 73,400 (73,400/613,800*100)=>11.96% 41,900 (41,900/556,000)*100=>7.54% net income 83,000 (83,000//613,800*100)=>13.52% 76,700 (76,700/556,000*100)=>13.79%Related Questions
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