Knowledge check 01 provided below is summary income statement data for freedom corporation. amount sales $ 800,000 cost of goods sold 350,000 operating expenses 180,000 other expense 30,000 income tax expense 20,000 net income $ 220,000 using vertical analysis, what percentage is applicable to cost of goods sold? multiple choice 35.0% 43.8% 56.2% 62.9%

43.8%(approx)

Explanation:

Given that,

Sales = $800,000

Cost of goods sold = 350,000

Operating expenses = 180,000

Other expense = 30,000

Income tax expense = 20,000

Net income = $ 220,000

Here, we are using vertical analysis,

Percentage is applicable to Cost of Goods Sold:

= (Cost of goods sold ÷ Sales) × 100

= ($350,000 ÷ $800,000) × 100

= 0.4375 × 100

= 43.75% or 43.8%(approx)

the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.