Prepare a schedule showing a vertical analysis for 2009

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Reference no: EM1314520

Horizontal and Vertical Analysis of income statement.

Financial information for Blevins Inc. is presented below.

	2009	2008
	Amount	Amount
Sales	$750,000	$600,000
Cost of goods sold	465000	390000
Gross profit	$285,000	210000
Selling expenses	120000	72,000
Administrative expense	$60,000	54,000
Income before tax	$105,000	84,000
Income tax expense	$33,000	24,000
Net income	$72,000	60,000

Prepare a schedule showing a vertical analysis for 2009 and 2008.
Prepare horizontal analysis.
Prepare vertical analysis.

Reference no: EM1314520

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