Income statement information for Lucy Company is provided below: Using vertical analysis of the income statement for Lucy Company, determine the gross profit margin.
A) 100%
B) 70%
C) 40%
D) 60%

Question

Income statement information for Lucy Company is provided below:  Using vertical analysis of the income statement for Lucy Company, determine the gross profit margin.
A) 100% 
B) 70% 
C) 40% 
D) 60%

Quizplus · Accepted Answer

The Answer of Income statement information for Lucy Company is provided below:  Using vertical analysis of the income statement for Lucy Company, determine the gross profit margin.
A) 100% 
B) 70% 
C) 40% 
D) 60%

Income Statement Information for Lucy Company Is Provided Below