The Vertical Analysis of the Income Statement of Bates, Inc

question 22

Multiple Choice

The vertical analysis of the income statement of Bates, Inc. is as shown below: The figure 47.0% shown for gross profit in 2019 signifies that the gross profit is ________.

• A) equal to 47.0% of net income
• B) increased by 47.0% over the previous year
• C) 47.0% of net sales revenue
• D) 47.0% of cost of goods sold

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Definitions:

David Wojnarowicz

An American painter, photographer, writer, and prominent AIDS activist in the late 20th century known for his provocative works.

Contemporary Issue

A topic or problem that is relevant and of importance in the current time period.

Julian Schnabel

An American painter and filmmaker known for his "plate paintings" and for directing films such as "The Diving Bell and the Butterfly."

Artistic Movement

An artistic trend or fashion with a unified philosophy or objective, pursued by an assembly of artists within a confined duration.