Sports Emporium has two operating segments: sporting goods and sports apparel. The income statement for each operating s

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Sports Emporium Has Two Operating Segments Sporting Goods And Sports Apparel The Income Statement For Each Operating S 1 (28.29 KiB) Viewed 32 times

Sports Emporium has two operating segments: sporting goods and sports apparel. The income statement for each operating segment is presented below. Required: 1. Complete the "%" columns to be used in a vertical analysis of Sports Emporium's two operating segments. Express each amount as a percentage of sales. (Round your answers to 1 decimal place.) Net sales Cost of goods sold Gross profit Operating expenses Operating income Other income (expense) Income before tax Income tax expense Net income SPORTS EMPORIUM Income Statement For the Year Ended December 31, 2021 Sporting Goods O Sports Apparel Ⓒ Sporting Goods $ Amount 1,650,000 980,000 670,000 390,000 280,000 17,000 297,000 74,000 $ 223,000 % 100.0 $ $ Sports Apparel Amount 910,000 490,000 420,000 280,000 140,000 (12,000) 128,000 64,000 64,000 % 100.0 2. Use vertical analysis to compare the profitability of the two operating segments. Which segment has a higher net income as a percentage of net sales?