Common-size and trend percentages for a companys net sales, cost of goods sold, and expenses follow: Required

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Common-size and trend percentages for a company€™s net sales, cost of goods sold, and expenses follow:

Required
Determine whether the company€™s net income increased, decreased, or remained unchanged during this three-yearperiod.

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Fundamental Accounting Principles Volume II

ISBN: 978-1259066511

14th Canadian Edition

Authors: Larson Kermit, Jensen Tilly

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Question Posted: Jan 08, 2015 09:49 AM

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Common-size and trend percentages for a companys net sales, cost of goods sold, and expenses follow: Required

Question:

Trend Percentages Net sales Cost of goods sold6 Expenses Common-Size Percentages 2014 2013 2012 100.0% 64.5 63.0 60.2 16.4 15.9 16.2 2014 2013 2012 105.3% 114.1 110.2 100.0 107.8 103.4 100.0 100.0% 100.0% 106.5% 100.0%

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The net income decreased Supporting calculations When the sums of ea...View the full answer

Fundamental Accounting Principles Volume II

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