Refer to the information for Sundahl Company below. Sundahl Company's income statements for the past 2 years
Question:
Sundahl Company's income statements for the past 2 years are as follows:
Required:
Prepare a common-size income statement for Year 2 by expressing each line item for Year 2 as a percentage of that same line item from Year 1.
Transcribed Image Text:
Sundahl Company Income Statements For the Years 1 and 2 Year 2 Sales Less: Cost of goods sold 2,000,000 1.400.000) S 600,000 1,800,000 1.200,000) Gross margin $ 600,000 Less operating expenses: S (300,000) (100,000) $ 200,000 50.000) $ 150,000 (300,000) (110,000) S 190,000 (40,000) Selling expenses Administrative expenses Operating income Less: Interest expense Income before taxes 150,000
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Year 2 Amount Percent of Year 1 Amount Sales 1800000 900 Les...View the full answer
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Related Book For
Cornerstones of Managerial Accounting
ISBN: 978-1305103962
6th edition
Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
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