A company has net sales of $97,500, cost of goods sold of $37,000, gross profit of $60,500, total operating expenses of $12,675, and net income of $47,825. Rounded to the nearest tenth of a percent, what would the vertical analysis of the income statement have for total operating expenses?
A) 34.3%
B) 26.5%
C) 21.0%
D) 13.0%
D
Business
You might also like to view...
"Category killers" are large retailers selling products in a particular product category at a discount
Indicate whether the statement is true or false
Business
Households comprised of single, separated, widowed, and divorced individuals generally demand larger apartments and expensive appliances, furniture, and furnishings
Indicate whether the statement is true or false
Business
Corporate policies designed to attract, train, and evaluate competent employees are considered to be control activities in the COSO framework for internal controls
a. True b. False Indicate whether the statement is true or false
Business
Defined-contribution plans do not appeal to employers.
Answer the following statement true (T) or false (F)
Business