The following information is provided from Ace Electronics' annual report for the years ended December...
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Accounting
The following information is provided from Ace Electronics' annual report for the years ended December 31: 2012 Sales Cost of goods sold Gross proft Operating expenses Net income $118,000 $112,000 $100,000 60,000 s_18.00? $25.000 S20.000 50,00070,000 40,000 40,000 50,000 68,000 42,000 45,000 10.2-29) Refer to the Ace Electronics annual report above. Using vertical analysis, 2011 Cost of goods sold would be represented as A) 26790 B) 105% C) 42% D) 38% Answer: D
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