Operating data for Ayayai Corp. are présented 2019 2010 Sales revenue Cost of go
ID: 2524383 • Letter: O
Question
Operating data for Ayayai Corp. are présented 2019 2010 Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 476,690 107,310 58,400 28,470 59,130 $630,000 422,730 73,710 47,250 28,350 57,960 Prepare a schedule showing a vertical analysis for 2019 and 2018. (Round percentages to 1 deci AYAYAI CORP Condensed Income Statement 2018 2019 Amount Percent Amount Percent Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income before income $730,000 476,690 253,310 107,310 58,400 165,710 87,600 28,470 % $630,000 % 422,730 % 207,270 73,710 % 47,250 % 120,960 86,310 % 28,350 taxes Income tax expenseExplanation / Answer
AYAYAI Corp
Condensed Income Statement
Vertical Analysis Statement
2019
2018
Amount
Percent
Amount
Percent
Sales
730,000
100
630,000
100
Cost of goods sold
476,690
65.3
422,730
67.1
Gross Profit
253,310
34.7
207,270
32.9
Selling Expense
107,310
14.7
73,710
11.7
Administrative Expense
58,400
8
47,250
7.5
Total Operating Expenses
165,710
22.7
120,960
19.2
Income before Income Taxes
87,600
12
86,310
13.7
Income Tax Expense
28,470
3.9
28,350
4.5
Net Income
59,130
8.1
57,960
9.2
2019
2018
Amount
Percent
Amount
Percent
Sales
730,000
100
630,000
100
Cost of goods sold
476,690
65.3
422,730
67.1
Gross Profit
253,310
34.7
207,270
32.9
Selling Expense
107,310
14.7
73,710
11.7
Administrative Expense
58,400
8
47,250
7.5
Total Operating Expenses
165,710
22.7
120,960
19.2
Income before Income Taxes
87,600
12
86,310
13.7
Income Tax Expense
28,470
3.9
28,350
4.5
Net Income
59,130
8.1
57,960
9.2
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