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Exercise 13-04 (Video) Operating data for Riverbed Corp are presented below. Sales revenue Cost of goods...

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Exercise 13-04 (Video) Operating data for Riverbed Corp are presented below. Sales revenue Cost of goods sold Selling expense

Exercise 13-04 (Video) Operating data for Riverbed Corp are presented below. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2020 $880,000 618,640 126,720 61,600 30,800 42,240 2019 $540,000 336,420 64,800 39,420 22,680 76,680 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round percentages to 1 decimal place, e.g. 12.1%.) RIVERBED CORP Condensed Income Statement For the Years Ended December 31 V 2020 2019 Amount Percent Amount Percent Sales $880,000 % $540,000 % Cost of goods sold 618,640 % 336,420 % Gross profit 261,360 % 203,580 % Selling expenses 126,720 % 64,800 % Administrative expenses 61,600 % 39,420 % Total operating expenses 188,320 % 104,220 % Income before income taxes 73,040 % 99,360 % Income tax expense 30,800 % 22,680 % Net income $ 42,240 % $ 76,680 %

Answers

RIVERBED CORP
Condensed Income Statement
for the year ended december 31
2020 2019
a b = a / net sales a b = a / net sales
Net sales $ 880,000 100.0% $ 540,000 100.0%
Cost of goods sold $ 618,640 70.3% $ 336,420 62.3%
Gross profit $ 261,360 29.7% $ 203,580 37.7%
Selling expense $ 126,720 14.4% $    64,800 12.0%
Administrative expense $    61,600 7.0% $    39,420 7.3%
Total operating expense $ 188,320 21.4% $ 104,220 19.3%
Income before income tax $    73,040 8.3% $    99,360 18.4%
income tax expense $    30,800 3.5% $    22,680 4.2%
net income $    42,240 4.8% $    76,680 14.2%

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