History \"Exercise 13-4 Operating data for Swifty Corporation are presented belo
ID: 2593273 • Letter: H
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History "Exercise 13-4 Operating data for Swifty Corporation are presented below. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income $860,000 555,560 $550,000 380,050 117,82063,250 44,550 23,650 38,500 65,360 31,820 89,440 Prepare a schedule showing a vertical analysis for 2019 and 2018. (Round percentages to 1 decimal place, e.g. 12.1%.) SWIFTY CORPORATION 2019 2018 $860,000 555,560 304,440 117,820 Administrative expenses 65,360 Total operating expenses 183,180 Income before income taxes 121,260 31,820 $ 89,440 96 $550,000 % 380,050 96 169,950 % 63,250 % 44,550 % 107,800 % 62,150 % 23,650 96 S38.500 Sales Cost of goods sold Gross profit Seling expenses Income tax expense Net income Question Attempts: 0 of 3 useExplanation / Answer
Amount % Amount % Sales 860,000 100 550,000 100 Cost of goods sold 555,560 64.6 380,050 69.1 Gross Profit 304,440 35.4 169,950 30.9 Selling Expenses 117,820 13.7 63,250 11.5 administrative expenses 65,360 7.6 44,550 8.1 Total Operating expenses 183,180 21.3 107,800 19.6 Income before income taxes 121,260 14.1 62,150 11.3 Income tax expenses 31,820 3.7 23,650 4.3 Net Income 89,440 10.4 38,500 7.0
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