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  3. abc company had the following for the last two yea

ABC Company had the following for the last two years: ABC Company had the following...

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Question

Accounting

ABC Company had the following for the last two years: ABC Company had the following for the last two years:
Year 1:
Sales =100,000
Cost of goods sold =70,000
Gross profit =30,000
Year 2:
Sales =120,000
Cost of goods sold =80,000
Gross profit =40,000
A year 1 vertical analysis of gross profit is
25.0%
30.0%
33.3%
40.0%
75.0%
Year 1:
Sales =100,000
Cost of goods sold =70,000
Gross profit =30,000
Year 2:
Sales =120,000
Cost of goods sold =80,000
Gross profit =40,000
A year 1 vertical analysis of gross profit is _____.
Answer
25.0%
30.0%
33.3%
40.0%
75.0%
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