In 2016,net sales were $672,000,cost of goods sold was $450,000.In 2015,net sales amounted to $600,000 and cost of goods sold was $400,000.In a comparative income statement,using vertical analysis,the 12% increase in net sales will be presented in the percentage column.

Question

Quizplus · Accepted Answer

Vertical analysis presents each item as a percentage of a base figure within the same year, not the percentage change between years.

In 2016,net Sales Were $672,000,cost of Goods Sold Was $450,000