E1-0-48. Vertical analysis. (LO 2)
Use the income statement from Designers Discount Inc. to perform a vertical analysis with sales as the base.
| Designers Discount Inc. Income Statement For the year ended March 28, 2008 | ||
| Sales revenue | $16,374 | |
| Cost of goods sold | 7,985 | |
| Gross profit on sales | $ 8,389 | |
| Operating expenses: | ||
| Depreciation-buildings and equipment | $265 | |
| Other selling and administrative | 3,750 | |
| Total expenses | 4,015 | |
| Income before interest and taxes | $4374 | |
| Interest expense | 254 | |
| Income before taxes | $4,120 | |
| Income taxes | 1,236 | |
| Net income | $ 2,884 |
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