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percentage Sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Innovation Quarter...

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Algebra

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percentage Sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Innovation Quarter Inc Comparative Income Statement For the Years Ended December 31 Current year Current year Amount Percent 4 000 000 2 280 000 600 000 520 000 240 000 6 196 196 196 196 Previous year Previous year Amount Percent 3 600 000 1 872 000 648 000 360 000 216 000 3 N b The vertical analysis indicates that the cost of goods sold as a percent of sales expenses by 3 percentage points and administrative expenses income as a percent of sales by 5 percentage points 1 11 11 1 4 by 5 percentage points while selling by 3 percentage points Thus net

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