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Income Statement Information for Lucy Company Is Provided Below Prepare a Vertical Analysis of the Income Statement for Lucy

Question 74

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Income statement information for Lucy Company is provided below:
 Sales  Cost of goods sold  Gross profit $175,000105,000$70,000\begin{array}{l}\begin{array}{l}\text { Sales } \\\text { Cost of goods sold }\\\text { Gross profit }\end{array}\begin{array}{r}\$ 175,000 \\105,000 \\\hline\$ 70,000\\\hline\end{array}\end{array}
Prepare a vertical analysis of the income statement for Lucy Company.

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