Operating data for Jacobs Corporation are presented below. 2014 2013 Prepare a s
ID: 2589186 • Letter: O
Question
Operating data for Jacobs Corporation are presented below.
2014
2013
Prepare a schedule showing a vertical analysis for 2014 and 2013. (Round percentages to 1 decimal place, e.g. 12.1%.)
JACOBS CORPORATION
Condensed Income Statement
For the Years Ended December 31
2014
2013
Amount
Percent
Amount
Percent
Sales
$834,300
%
$647,500
%
Cost of goods sold
528,200
%
410,700
%
Gross profit
306,100
%
236,800
%
Selling expenses
128,000
%
78,100
%
Administrative expenses
74,800
%
54,800
%
Total operating expenses
202,800
%
132,900
%
Income before income taxes
103,300
%
103,900
%
Income tax expense
38,200
%
26,000
%
Net income
$ 65,100
%
$ 77,900
%
2014
2013
Sales revenue $834,300 $647,500 Cost of goods sold 528,200 410,700 Selling expenses 128,000 78,100 Administrative expenses 74,800 54,800 Income tax expense 38,200 26,000 Net income 65,100 77,900Explanation / Answer
2014 2013 Amount Percent Amount Percent Sales 834300 100.0% 647500 100.0% Cost of goods sold 528200 63.3% 410700 63.4% Gross profit 306100 36.7% 236800 36.6% Selling expenses 128000 15.3% 78100 12.1% Administrative expenses 74800 9.0% 74800 11.6% Total operating expenses 202800 24.3% 152900 23.6% Income before income taxes 103300 12.4% 103900 16.0% Income tax expense 38200 4.6% 26000 4.0% Net income 65100 7.8% 77900 12.0%
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