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To Follow Is Selected Information About the Blaz Company for the Current

question 22

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To follow is selected information about The Blaz Company for the current year and prior year.  Account  Current  Priar  Net sales revenue $648,000$595,000 Cost of goods sold $401,760$425,000 Gross profit $246,240$170,000 Selling/general expenses $136,080$93,500 Net income before tax $110,160$76,500 Income tax $32,400$22,800 Net income $77,760$53,700\begin{array} { | l | l | l | } \hline \text { Account } & \text { Current } & \text { Priar } \\\hline \text { Net sales revenue } & \$ 648,000 & \$ 595,000 \\\hline \text { Cost of goods sold } & \$ 401,760 & \$ 425,000 \\\hline \text { Gross profit } & \$ 246,240 & \$ 170,000 \\\hline \text { Selling/general expenses } & \$ 136,080 & \$ 93,500 \\\hline \text { Net income before tax } & \$ 110,160 & \$ 76,500 \\\hline \text { Income tax } & \$ 32,400 & \$ 22,800 \\\hline \text { Net income } & \$ 77,760 & \$ 53,700 \\\hline\end{array}
-What is the current year's cost of goods sold percentage (as would be found on a vertical analysis of the income statement for the current year) ?


Definitions:

After-Tax Cost of Debt

The net cost of debt after the effects of income tax deductions on interest payments are considered.

Corporate Tax Rate

The percentage of a corporation's income that it pays as taxes to the government.

CCA Class

Refers to the Canadian Classification of Capital Assets, a system used in Canada for categorizing fixed assets for tax depreciation purposes.

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