E10-4A. Vertical analysis. (LO 2)
Use the income statement from Color Copy to perform a vertical analysis with sales as the base.
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Color Copy Inc. Income Statement For the year ended September 30,2OO7 |
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Sales revenue |
$10,228 |
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Cost of goods sold |
5,75 |
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Gross profit |
$4,477 |
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Operating expenses: |
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Depreciation-buildings and equipment |
$ 100 |
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Other selling and administrative |
2,500 |
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Total expenses |
2,600 |
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Income before interest and taxes |
$ 1,877 |
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Interest expense |
350 |
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Income before taxes |
$1,527 |
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Income taxes |
150 |
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Net income |
1,377 |
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