Provided below is summary income statement data for Freedom Corporation.   AmountSales $800,000Cost of goods sold 350,000Operating expenses 180,000Other expense 30,000Income tax expense 20,000Net income $220,000Using vertical analysis, what percentage is applicable to Cost of Goods Sold?Multiple Choice35.0%43.8%56.2%62.9%

You've been provided with the following information about a businessComplete a horizontal analysis for "Gross profit". Round the percentage change to one decimal place (1 mark).Note: Do not enter the "%" symbol when entering your answer. For example if your answer is "5.1%", only enter "5.1". Profit and loss statement Current year Prior yearRevenue 15000 10000Less Cost of sales 6500 3000Gross profit 8500 7000Less expenses Marketing Expense 2000 1800Rent Expense 1500 1500Wages Expense 800 1000Utilities Expense 1500 1500Net profit 2700 1200

Multiple Choice QuestionDuring the period, a company reports Sales of $38,000, Cost of Goods Sold of $20,000, and Income of $1,500. Profit margin is:Multiple choice question.3.9%8.3%7.5%

Selected information for Alastair Company is as follows: 2012Current assets$450,000Total assets725,000Cost of goods sold700,000Sales revenue915,000Net income145,000 What is the percentage that would be given to sales revenue on a common-size income statement (round to the nearest percent)?

In vertical analysis of the income statement, we usually express each income statement item as a percentage of:Multiple ChoiceTax expenseSalesOperating expensesNet income

Which of the following items appears only in a manufacturing company's financial statements?Multiple ChoiceGross profit.Net income.Inventory.Cost of goods sold.Cost of goods manufactured.