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Q6. Ronaldo Soccer Shop's income statement reports sales of $100,000; cost of goods sold of...

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Accounting

Q6.

Ronaldo Soccer Shop's income statement reports sales of $100,000; cost of goods sold of $46,000, operating expenses of $34,000, interest expense of $15,000, income tax expense of $2,000, and net income of $3,000. If you were to perform a vertical analysis of this income statement, you would divide each of these income statement line items by:

Multiple Choice

  • $100,000

  • $46,000

  • $34,000

  • $3,000

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