Exercise 13-4 Operating data for Bridgeport Corp. are presented belovw 2017 -207

Question

Exercise 13-4 Operating data for Bridgeport Corp. are presented belovw 2017 -2072016 $826,200 $641,300 Sales revenue Cost of goods sold 523,300 414,500 121,800 78,500 Administrative expenses77,100 51300 36,600 25,700 67,400 71,300 Selling expenses Income tax expense Net income Prepare a schedule showing a vertical analysis for 2017 and 2016. (Round percentages to 1 decimal place, e.g. 12.1%.) BRIDGEPORT CORP 2017 2016 Percent Percent $826,200 523,300 302,900 121,800 77,100 198,900 Income before income taxes 104,000 36,600 67,400 % $641,300 % 414,500 % 226,800 % 78,500 % 51,300 % 129,800 % 97,000 % 25,700 % $71,300 Cost of goods sold Gross profit Selling expenses Total operating expenses Income tax expense Net income Click if you would like to Show Work for this question: Open Show Work

Explanation / Answer

Note-The % are obtained by dividing evry line item amount with the figure of Sales

2017 2016 Amount % Amount % Sales    826,200.00 100%    641,300.00 100% Cost Of Goods Sold    523,300.00 63%    414,500.00 65% Gross Profit    302,900.00 37%    226,800.00 35% Selling expenses    121,800.00 15%      78,500.00 12% Administrative Expenses      77,100.00 9%      51,300.00 8% Total Operating Expenses    198,900.00 24%    129,800.00 20% Income Before Taxes    104,000.00 13%      97,000.00 15% Income Tax Expense      36,600.00 4%      25,700.00 4% Net Income      67,400.00 8%      71,300.00 11%

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