Danner Corporation reported net sales

Question # 00005473 Posted By: expert-mustang Updated on: 12/15/2013 10:33 PM Due on: 12/16/2013
Subject Accounting Topic Accounting Tutorials:
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1. Danner Corporation reported net sales of $600,000, $680,000, and $800,000 in the years 2011, 2012, and 2013, respectively. If 2011 is the base year, what percentage do 2013 sales represent of the base?

2. Richards, Inc. has the following income statement (in millions):
Income Statement
For the Year Ended December 31, 2012
Net Sales $180
Cost of Goods Sold 60
Gross Profit 120
Operating Expenses 75
Net Income $ 45

Using vertical analysis, what percentage is assigned to net income?

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