Please Refer to the Vertical Analysis of Income Statement Data

question 133

Multiple Choice

Please refer to the vertical analysis of income statement data shown below: The figure 47.0% shown for Gross profit in 2014 signifies that:

• A)in 2014, gross profit is equal to 47% of net income.
• B)in 2014, gross profit is up 47% versus the previous year.
• C)in 2014, gross profit is 47% of net sales revenue.
• D)in 2014, gross profit is 47% of cost of revenues.