Prepare a Vertical Analysis of the Income Statement Shown Below $$\begin{array} { l l } \text { Net Sales } & \$ 7,000 \\\text { Cost of Goods Sold } & 3 , 8 0 0 \\\text { Gros Profit } & 3 , 2 0 0 \end{array}$$

question 148

Essay

Prepare a vertical analysis of the income statement shown below. (Round to two decimal places.)
Buckner, Inc.
Income Statement
For the Year Ended December 31, 2019 $$\begin{array} { l l } \text { Net Sales } & \$ 7,000 \\\text { Cost of Goods Sold } & 3 , 8 0 0 \\\text { Gros Profit } & 3 , 2 0 0 \end{array}$$ Operating Expenses:
$$\begin{array} { l l } \text { Selling Expenses } &&950 \\\text { Administrative Expenses } & \underline { 670 } \\\text { Total Operating Expenses } & \underline { 1,620 } \\\text { Operating Income } & 1,580\end{array}$$ Other Income and (Expenses):
$\begin{array}{lll}\text { Interest Expense } & \underline{750)} \\\text { Total Other Income and (Expenses) } & && \underline{750)}\\\text { Income Before Income Taxes } & &830 \\\text { Income Tax Expense } & \underline{150} & \\\text { Net Income } & \underline{\underline{\$ 680}} &\end{array}$

Identify the effects of media and societal expectations on gender roles and body image.

Acknowledge the significance of policies and studies aiming at reducing gender pay gaps.

Recognize the pervasive influence of rape culture in normalizing violence against women.

Understand the relationship between gender role socialization and aggressive behaviors.

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Definitions:

Normal Good

A type of good for which demand increases as the consumer's income increases and decreases as the consumer's income decreases.

Temporary Weather Fluctuations

Short-term changes in weather patterns, which may impact various aspects of daily life and economic activities.

Car Transactions

Refers to the buying, selling, or trading of automobiles between parties.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price level in a given period.