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A condensed income statement for Simultech Corporation and a partially completed vertical analysis are presented...

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Accounting

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A condensed income statement for Simultech Corporation 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 the nearest whole percent.) Previous Year SIMULTECH CORPORATION Income Statement (summarized) (in millions of U.S. dollars) Current Year Sales Revenues $ 2.067 1001S Cost of Goods Sold 1.557 Selling. General and Administrative Expenses Other Operating Expenses Interest Expense Income before income taxes Income Tax Expense 4101 18 Other Operating Expenses Interest Expense Income before income taxes Income Tax Expense Net Income 242 30 212 $ 2. Does Simultech's Cost of Goods sold for the current year as a percentage of revenues, represent better or worse perfo as compared to that for the previous year? Better Worse

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