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

question 22

Multiple Choice

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

• A)62.00%
• B)67.52%
• C)-5.47%
• D)94.53%

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Definitions:

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The most prominent or recurring theme or characteristic within a set of data, behavior, or phenomena.

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The shared values, beliefs, behaviors, and norms that define a group of people or an organization.