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Vernon Corporation reported the following operating results for two consecutive years: Required a. Compute the percentage changes in Vernon Corporation's income statement components between the two years. Note: Negative amounts should be indicated by a minus sign. Round your answers to 1 decimal place. (.e., .234 should be entered as 23.4). Sales Cost of goods sold Gross margin Operating expenses Income before taxes Income taxes Not income (loss) VERNON CORPORATION Income Statements Year 3 Year 2 $1,003,000 601,800 401,200 199,500 $ 1,298,000 798,270 499,730 300,500 190,230 201,700 61,400 52,400 $ 137.830 S 149,300 Percentage Change % %

Vernon Corporation reported the following operating results for two consecutive years: Required a. Compute the percentage changes in Vernon Corporation's income statement components between the two years. Note: Negative amounts should be indicated by a minus sign. Round your answers to 1 decimal place. (.e., .234 should be entered as 23.4). Sales Cost of goods sold Gross margin Operating expenses Income before taxes Income taxes Not income (loss) VERNON CORPORATION Income Statements Year 3 Year 2 $1,003,000 601,800 401,200 199,500 $ 1,298,000 798,270 499,730 300,500 190,230 201,700 61,400 52,400 $ 137.830 S 149,300 Percentage Change % %

Financial Accounting
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter2: Analyzing Transactions
Section: Chapter Questions
Problem 23E: The following data (in millions) are taken from the financial statements of Target Corporation: a....
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ces Vernon Corporation reported the following operating results for two consecutive years: Required a. Compute the percentage changes in Vernon Corporation's income statement components between the two years. Note: Negative amounts should be indicated by a minus sign. Round your answers to 1 decimal place. (.e., .234 should be entered as 23.4). Sales Cost of goods sold Gross margin Operating expenses Income before taxes Income taxes Net income (loss) VERNON CORPORATION Income Statements Year 3 Year 2 $ 1,298,000 $1,003,000 798,270 601,800 499,730 401,200 300,500 199,500 199,230 201,700 61,400 52,400 $ 137,830 $ 149,300 Percentage Change % %
Transcribed Image Text:ces Vernon Corporation reported the following operating results for two consecutive years: Required a. Compute the percentage changes in Vernon Corporation's income statement components between the two years. Note: Negative amounts should be indicated by a minus sign. Round your answers to 1 decimal place. (.e., .234 should be entered as 23.4). Sales Cost of goods sold Gross margin Operating expenses Income before taxes Income taxes Net income (loss) VERNON CORPORATION Income Statements Year 3 Year 2 $ 1,298,000 $1,003,000 798,270 601,800 499,730 401,200 300,500 199,500 199,230 201,700 61,400 52,400 $ 137,830 $ 149,300 Percentage Change % %
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