Jordan Company reported the following operating results for two consecutive years. Required Express each income statement component
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Express each income statement component for each of the two years as a percent of sales. Round percentages to one decimalpoint.
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2014 Amount Percent of Sales Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes Income taxes Net income $1,600,000 900,000 700,000 200,000 500,000 100,000 S 400,000 2015 Amount Percent of Sales Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes Income taxes Net income $2,000,000 1.180,000 820,000 240,000 580,000 120,000 $460,000
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Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078025655
7th edition
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old
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