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Vertical Analysis of Income Statement For 20r2, Tri-Comic Company initiated a sales promotion campaign that...

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Vertical Analysis of Income Statement For 20r2, Tri-Comic Company initiated a sales promotion campaign that included the expenditure of an additional $15,000 for advertising. At the end of the year, Lumi Neer, the president, is presented with the following condensed comparative income statement: 1. Prepare a comparative income statement for the two-year period, presenting an analysis of each item in relationship to sales for each of the years. Enter percentages as whole numbers. Enter all amounts as positive numbers. 2. The vertical analysis indicates that the costs other than selling expenses (cost of merchandise sold and administrative expenses) as a percentage of sales. As a result, net income as a percentage of sales appears to have been . While selling expenses as a percent of sales she shales promotion campaigr cost was more than made up for by sales

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