contestada

Given the following data:
Net sales $430,000
Cost of goods sold $80,000
Gross profit $350,000
Operating expenses $50,000
Net income $300,000
In vertical analysis, net income would be expressed as: (Round your final answer to the nearest whole percent)
A. 12%.
B. 81%.
C. 70%.
D. 19%

Respuesta :

Answer:

C. 70%.

Explanation:

Calculation for the net income

Using this formula

Net income=Net income/Net Sales

Let plug in the formula

Net income= $300,000/ $430,000

Net income=70%

Therefore the net income would be expressed as 70%