Activity 2 (page 9) Directions: Perform the vertical analysis of the following company TMAM TRANSPORTATION STATEMENT OF PERFORMANCE
For the period ended December 31, 2019
Sales. Php104,705
Cost of Sales. (35,275)
Gross Profit Php69,430
Selling Expenses (35,325)
Administrative Expenses. (12,815) Operating Income. (21,290)
Interest Expense. (1.050)
Net Income Php20,240
For the period ended December 31, 2019
Sales. Php104,705
Cost of Sales. (35,275)
Gross Profit Php69,430
Selling Expenses (35,325)
Administrative Expenses. (12,815) Operating Income. (21,290)
Interest Expense. (1.050)
Net Income Php20,240
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The purpose of a trial balance is to ensure that all entries made into an organization's general ledger are properly balanced. A trial balance lists the ending balance in each general ledger account. The are supposed to match.