Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow. Determine whether

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Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow. Determine whether net income increased, decreased, or remained unchanged in this three-year period.

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Fundamental Accounting Principles

ISBN: 978-1259536359

23rd edition

Authors: John Wild, Ken Shaw, Barbara Chiappett

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Question Posted: Mar 24, 2017 01:25 AM

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Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow. Determine whether

Question:

Trend Percents Common-Size Percents 2017 2016 2015 2017 2016 2015 100.0% 100.0% 100.0% 105.4% 104.2% 100.0% 63.4 61.9 59.1 113.1 109.1 100.0 15.3 14.8 15.1 106.8 102.1 100.0 Sales Cost of goods sold. Total expenses

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Net income decreased Supporting calculations When the sum of each years ...View the full answer

Fundamental Accounting Principles

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