1. Complete the vertical analysis by computing each missing line item as a perce
ID: 2580832 • Letter: 1
Question
1. Complete the vertical analysis by computing each missing line item as a percentage of sales revenues. (Round your answers to the nearest whole percent.)
1. Complete the vertical analysis by computing each missing line item as a percentage of sales revenues. (Round your answers to the nearest whole percent.)
PB13-4 Vertical Analysis of an Income Statement [LO 13-3, LO 13-5] A condensed income statement for Northeast Airlines and a partially completed vertical analysis are presented below Required: 1. Complete the vertical analysis by computing each missing line item as a percentage of sales revenues. Round your answers to the nearest whole percent.) NORTHEAST AIRLINES Income Statement (summarized) For the Year Ended December 31 (in millions of U.S. dollars) 2013 2012 $ 17.760 4,995 6,903 4,610 30 1,222 460 $762 1001% Sales Revenues Salaries and Wages Expense Fuel, Oil, Repairs, and Maintenance Other Operating Expenses Other Expenses (Revenues) Income before Income Tax Expense Income Tax Expense Net Income 100%! $ 17,199 4,789 7,313 4.515 (66) 648 250 %| $ 398 28 26
Explanation / Answer
2013 2012 Sales Revenue 17760 100% 17199 100% Salaries and wages expense 4995 28% 4789 28% Fuel,oil,repairs and maintenance 6903 39% 7313 43% Other operating expenses 4610 26% 4515 26% Other expenses(Revenues) 30 0% -66 0% Income before Income Tax Expense 1222 7% 648 4% Income Tax Expense 460 3% 250 1% Net Income 762 4% 398 2%
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