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bernie2981 bernie2981
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8 years ago
To follow is selected information about The Boston Company for the current year and prior year.

Account   Current   Prior
Net sales revenue   $648,000   $595,000
Cost of goods sold   $414,720   $425,000
Gross profit   $233,280   $170,000
Selling/general expenses    $149,040   $93,500
Net income before tax    $84,240   $76,500
Income tax   $25,920   $22,800
Net income   $58,320   $53,700

What is the current year's income tax percentage (as would be found on a vertical analysis of the income statement for the current year)?
A) 113.68%
B) 13.68%
C) 4.36%
D) 4.00%
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Managerial Accounting

Managerial Accounting


Edition: 4th
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nucleinuclei
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bernie2981 Author
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8 years ago
You're such a dedicated member, I very much appreciate the help.

Marking this solved ✓
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