The income statements for Federer Sports Apparel for 2022 and 2021 are presented below. Required: Prepare a vertical ana

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The Income Statements For Federer Sports Apparel For 2022 And 2021 Are Presented Below Required Prepare A Vertical Ana 1 (49.23 KiB) Viewed 40 times

The income statements for Federer Sports Apparel for 2022 and 2021 are presented below. Required: Prepare a vertical analysis of the data for 2022 and 2021. (Round your percentage answers to 1 decimal place.) FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 2022 2021 Amount % % 19,800,000 16,500,000 Net sales Cost of goods sold 12,711,600 7,623,000 7,088,400 8,877,000 Gross profit Operating expenses 1,881,000 1,435,500 Depreciation expense 1,247,400 1,237,500 415,800 Inventory write-down 0 1,782,000 231,000 Loss (litigation) Income before tax 1,762,200 5,973,000 673,200 2,293,500 Income tax expense Net income 1,089,000 3,679,500 $ $ $ $ Amount