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

question 67

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 income tax percentage (as would be found on a vertical analysis of the income statement for the current year) ?

• A)5.45%
• B)42.11%
• C)14211%
• D)5.00%

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