Business, 21.03.2020 09:06 lacyfigueroa
The Sports Warehouse operates in two distinct segments; equipment and apparel. The income statements for each operating segment are presented below.
AMOUNT % Amount %
sales $1,700,000 $2,850,000
Cost of goods sold 1,100,000 1,400,000
Gross profit 600,000 1,400,000
Operating expenses 250,000 500,000
operating income 350,000 950,000
other income (expenses) 25,000 (60,000)
income before tax 375,000 890,000
income tax expense 90,000 280,000
net income $285,000 610,000
Required:
1. Complete the "%" columns to be used in a vertical analysis of The Sports Warehouse's two operating segments. Express each amount as a percentage of sales. (Round your answers to 1 decimal place.)
2. Use vertical analysis to compare the profitability of the two operating segments. Which segment is more profitable?
a) Apparel
b) Equipment
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