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Home Q & A Board Other Fields Homework Help Business Accounting
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Harrison Harrison
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6 years ago
Snowy Lane Inc.
   Statement of Earnings
   For the Year Ended December 31, 2014

Net sales   $4,880,000
Expenses:
Cost of goods sold   $3,250,000
Selling expenses   270,000
General expenses   145,000
Interest expense   8,900
Income tax expense   230,000
Total expenses   3,903,900
Net income   $ 976,100

Required:
a. Prepare a vertical analysis of the Statement of Earnings showing appropriate percentages for each item listed above. Round percentages to one-tenth percent.
b. What additional information would you need to determine whether these percentages are good or bad?
Textbook 
Financial Accounting, Canadian Edition

Financial Accounting, Canadian Edition


Edition: 5th
Authors:
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msayed2004msayed2004
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6 years ago
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Harrison Author
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6 years ago
You make an excellent tutor!
ealvino1610
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Yesterday
Thanks
7.prime7105
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2 hours ago
Thanks for your help!!
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