Revenue and expense data for Bluestem Company are as follows:
Year 2 Year 1
Administrative e...
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Business, 24.05.2021 14:00 devenybates
Revenue and expense data for Bluestem Company are as follows:
Year 2 Year 1
Administrative expenses $37,720 $20,300
Cost of goods sold 360,000 319,900
Income tax 41,000 32,200
Sales 820,000 700,000
Selling expenses 154,160 109,900
Required:
Prepare a comparative income statement, with vertical analysis, stating each item for both years as a percent of sales.
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