question archive Exercise 14-4 Operating data for Joshua Corporation are presented below
Exercise 14-4 Operating data for Joshua Corporation are presented below
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Exercise 14-4
Operating data for Joshua Corporation are presented below.
|
2020 |
2019 |
|||
| Sales revenue | $755,000 | $600,000 | ||
| Cost of goods sold | 463,570 | 391,800 | ||
| Selling expenses | 123,820 | 76,800 | ||
| Administrative expenses | 58,890 | 55,800 | ||
| Income tax expense | 31,710 | 23,400 | ||
| Net income | 77,010 | 52,200 |
Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round answers to 1 decimal place, e.g. 48.5%.)
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Exercise 14-4
Operating data for Joshua Corporation are presented below.
|
2020 |
2019 |
|||
| Sales revenue | $755,000 | $600,000 | ||
| Cost of goods sold | 463,570 | 391,800 | ||
| Selling expenses | 123,820 | 76,800 | ||
| Administrative expenses | 58,890 | 55,800 | ||
| Income tax expense | 31,710 | 23,400 | ||
| Net income | 77,010 | 52,200 |
Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round answers to 1 decimal place, e.g. 48.5%.)
|
JOSHUA CORPORATION |
|||||||
|
2020 |
2019 |
||||||
|
Amount |
Percent |
Amount |
Percent |
||||
|
Sales revenue |
$755,000 |
|
$600,000 |
|
|||
|
Cost of goods sold |
463,570 |
|
391,800 |
|
|||
|
Gross profit |
291,430 |
|
208,200 |
|
|||
|
Selling expenses |
123,820 |
|
76,800 |
|
|||
|
Administrative expenses |
58,890 |
|
55,800 |
|
|||
|
Total operating expenses |
182,710 |
|
132,600 |
|
|||
|
Income before income taxes |
108,720 |
|
75,600 |
|
|||
|
Income taxes expense |
31,710 |
|
23,400 |
|
|||
|
Net income |
$77,010 |
|
$52,200 |
|
|||
