Selected information about the Thomas Trucks Company for the current year and prior year is given below. The current year's net income percentage (as would be found on a vertical analysis of the income statement for the current year)is
A)11.31%.
B)4)69%.
C)12.35%.
D)5)11%.

Question

Selected information about the Thomas Trucks Company for the current year and prior year is given below.  The current year's net income percentage (as would be found on a vertical analysis of the income statement for the current year)is
A)11.31%. 
B)4)69%. 
C)12.35%. 
D)5)11%.

Quizplus · Accepted Answer

The net income for the current year is $35,275, which is 11.31% of the total revenues of $311,763 as shown on the vertical analysis of the income statement.

Selected Information About the Thomas Trucks Company for the Current