Perform a vertical analysis on the income statement. (Always use cell references and...

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Accounting

Perform a vertical analysis on the income statement.
(Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong. All values should be added as positive numbers.)
RIVERSIDE SWEETS
Income Statement
Year Ended June 30,2024
Net Sales $2,800,000
Cost of Goods Sold 1,551,600
Gross Profit 1,248,400
Operating Expenses 450,540
Operating Income 797,860
Other Income and (Expenses)
Interest Expense 15,000
Income Before Income Taxes 782,860
Income Tax Expense 153,529
Net Income $629,331

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