it View History Bookmarks Develop Window Help edugen.wileyplus.com S Weygandt, F

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it View History Bookmarks Develop Window Help edugen.wileyplus.com S Weygandt, Financial & Managerial Accounting, te Assignment Gradebook ORION nment Exercise 14-2 Operating data for Conard Corporation are presented below. Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income $748,890 472,800 111,730 72,910 32,900 58,550 $603,820 405,610 80,390 50,860 22,470 44,490 Prepare a schedule showing a vertical analysis for 2014 and 2013. (Round all answers to 1 decimal place, eg, 48S% CONARD CORPORATION For the Years Ended December 31 2014 2013 Amount $748,890 472,800 276,090 111,730 72,910 Percent Amount $603,820 1 % 405,610 % 198,210 80,390 50,860 Percent Net sales 100 % 100 % 67.2 % Cost of goods sold Gross proft Seling expenses Administrative expenses Policy I hn Wley.&Sans.; Inc. All Rights Reserved. A Division of John Wiley& Sons Ins

Explanation / Answer

Amount % Amount % Net Sales                   748,890 100              603,820 100 Cost of goods sold                   472,800       63.1              405,610        67.2 Gross Profit                   276,090       36.9              198,210        32.8 Selling Expenses                   111,730       14.9                80,390        13.3 administrative expenses                      72,910         9.7                50,860          8.4 Total Operating expenses                   184,640       24.7              131,250        21.7 Income before income taxes                      91,450       12.2                66,960        11.1 Income tax expenses                      32,900         4.4                22,470          3.7 Net Income                      58,550         7.8                44,490          7.4

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