E10-4A. Vertical analysis. (LO 2)
Use the income statement from Color Copy to perform a vertical analysis with sales as the base.
| Color Copy Inc. Income Statement For the year ended September 30,2OO7 | ||
| Sales revenue | $10,228 | |
| Cost of goods sold | 5,75 | |
| Gross profit | $4,477 | |
| Operating expenses: | ||
| Depreciation-buildings and equipment | $ 100 | |
| Other selling and administrative | 2,500 | |
| Total expenses | 2,600 | |
| Income before interest and taxes | $ 1,877 | |
| Interest expense | 350 | |
| Income before taxes | $1,527 | |
| Income taxes | 150 | |
| Net income | 1,377 | |
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