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Home Q & A Board Other Fields Homework Help Business Accounting
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bernie2981 bernie2981
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8 years ago
Selected information about The Staccato Company for the current year and prior year is given below.

Account   Current   Prior
Net sales revenue   $648,000   $595,000
Cost of goods sold   $401,760   $425,000
Gross profit   $246,240   $170,000
Selling/general expenses    $142,560   $93,500
Net income before tax    $103,680   $76,500
Income tax   $32,400   $22,800
Net income   $71,280   $53,700

The current year's income tax percentage (as would be found on a vertical analysis of the income statement for the current year) is
A) 5.00%.
B) 142.11%.
C) 5.45%.
D) 42.11%.
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
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nucleinuclei
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8 years ago
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bernie2981 Author
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8 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
Transonic
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alpheratz
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Thanks
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