Revenue Gross Sales $199,000 Less: Sales Returns and Allowances Net Sales 11,600 177,400 Cost of Goods Sold Merchandise Inventory, Jan. 1 70,150 58,300 Net Purchases Goods Available for Sale 128,450...

Perform a vertical analysis for the entry "Gross Sales" on the portion of an income statement shown below (as a %). (Round to nearest tenth.)

*Chart is attached with the information*

Revenue<br>Gross Sales<br>$199,000<br>Less: Sales Returns and Allowances<br>Net Sales<br>11,600<br>177,400<br>Cost of Goods Sold<br>Merchandise Inventory, Jan. 1<br>70,150<br>58,300<br>Net Purchases<br>Goods Available for Sale<br>128,450<br>Less: Merchandise Inventory, Dec. 31<br>95,000<br>Cost of Goods Sold<br>43,450<br>Gross Margin<br>133,950<br>

Extracted text: Revenue Gross Sales $199,000 Less: Sales Returns and Allowances Net Sales 11,600 177,400 Cost of Goods Sold Merchandise Inventory, Jan. 1 70,150 58,300 Net Purchases Goods Available for Sale 128,450 Less: Merchandise Inventory, Dec. 31 95,000 Cost of Goods Sold 43,450 Gross Margin 133,950

Jun 09, 2022

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Revenue Gross Sales $199,000 Less: Sales Returns and Allowances Net Sales 11,600 177,400 Cost of Goods Sold Merchandise Inventory, Jan. 1 70,150 58,300 Net Purchases Goods Available for Sale 128,450...

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