The income statements of Cullumber Corporation show the following amounts: 2020 2019 2018 Net sales $740 $710 $660 Cost of goods sold 540 509 449 Gross profit 200 201 211 Selling, general, and administrative expenses 190 150 110 Profit before tax 10 51 101 Using vertical (common-size) analysis, analyze Cullumber Corporation’s declining profit before tax. (Round answers to 0 decimal places, e.g. 52%.) 2020 2019 2018 Net sales % % % Cost of goods sold % % % Gross profit % % % Selling, general, and administrative expenses % % % Profit before tax % % %

The income statements of Cullumber Corporation show the following amounts: 2020 2019 2018 Net sales $740 $710 $660 Cost of goods sold 540 509 449 Gross profit 200 201 211 Selling, general, and...

The income statements of Cullumber Corporation show the following amounts:

	2020	2019		2018
Net sales	$740		$710		$660
Cost of goods sold	540		509		449
Gross profit	200		201		211
Selling, general, and administrative expenses	190		150		110
Profit before tax	10		51		101

Using vertical (common-size) analysis, analyze Cullumber Corporation’s declining profit before tax.
(Round answers to 0 decimal places, e.g. 52%.)

	2020	2019	2018
Net sales	%	%	%
Cost of goods sold	%	%	%
Gross profit	%	%	%
Selling, general, and administrative expenses	%	%	%
Profit before tax	%	%	%

Jun 04, 2022