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W WileyPLUS WileyPLUS x C Exercise 13 5 The Current x lames -X Secure https//edugen.wileyplus.com/edugen/student/mainfr.uni a x ;;; Apps Blackboard My IU inbox (15/)-moon Student Center NC Mayors Montgorme ? Message Center ¥ Ioday's lamilies are?My LearnOnline-Bl à ARISYS Course Lqu » WileyPLUS ie Accaunting Kimmel, Accounting, Ge Accounting I ⅈ (ACCT 221 & ACCT 222) Exercise 13-4 2016 812,200 53U, 00 124,100 77,200 38,900 2,500 Sales reveruc $019,300 410,300 3,600 3,000 24,000 82,100 Cost of goocs slu iectivc Administrathe expenses ncome tax expen Prepare a scheaule shawina a vartical analysis tar 2017 and 2016. (Raund percentages to 1 decimal place, .. 12.10.) WHISPERING WIND S CORP Cat ot gcocs sold % 410,JUU % 73,500 Admintztve epnes 77.200 % 127,500 %111,70 % 21,000 ncoma heon incama tre 111.400 33,000 Click It you would Ilke to Show Work tor thls question: e Show Wack Quastion Attampts: a ot 2 ucedVErO LATEK URHIT ANSWERExplanation / Answer
WHISPERING WINDS CORP
CONDENSED INCOME STATEMENT
For the Years Ended 2017 and 2016
2017
2016
Amount
Percent
Amount
Percent
Sales
8,43,200
100 %
6,49,500
100 %
Cost of goods sold
5,30,500
62.9 %
4,10,300
63.2 %
Gross Profit
3,12,700
37.1 %
2,39,200
36.8 %
Selling Expenses
1,24,100
14.7 %
73,600
11.3 %
Administrative Expenses
77,200
9.2 %
53,900
8.3 %
Total Operating Expenses
2,01,300
23.9 %
1,27,500
19.6 %
Income Before Income Taxes
1,11,400
13.2 %
1,11,700
17.2 %
Income Tax Expense
38,900
4.6 %
24,600
3.8 %
Net Income
72,500
8.6 %
87,100
13.4 %
WHISPERING WINDS CORP
CONDENSED INCOME STATEMENT
For the Years Ended 2017 and 2016
2017
2016
Amount
Percent
Amount
Percent
Sales
8,43,200
100 %
6,49,500
100 %
Cost of goods sold
5,30,500
62.9 %
4,10,300
63.2 %
Gross Profit
3,12,700
37.1 %
2,39,200
36.8 %
Selling Expenses
1,24,100
14.7 %
73,600
11.3 %
Administrative Expenses
77,200
9.2 %
53,900
8.3 %
Total Operating Expenses
2,01,300
23.9 %
1,27,500
19.6 %
Income Before Income Taxes
1,11,400
13.2 %
1,11,700
17.2 %
Income Tax Expense
38,900
4.6 %
24,600
3.8 %
Net Income
72,500
8.6 %
87,100
13.4 %
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