Comparative figures from the statement of profit or loss of Misty Ltd are shown below 2017 2016 Revenue (all sales) Cost of sales $450 000 292 300 $390 000 287 000 Gross profit Expenses (including tax) 157 700 89 200 103 000 68 500 Profit $ 68 500 $ 34 500 Required Prepare common size statements fo...

Per cent of revenue 2017 2016 Revenue all sales 1000 1000 Cost of sales 650 736 Gross profi ...

Comparative figures from the statement of profit or loss of Misty Ltd are shown below: 2017 2016

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Comparative figures from the statement of profit or loss of Misty Ltd are shown below:

	2017		2016
Revenue (all sales) Cost of sales		$450 000 292 300		$390 000 287 000
Gross profit Expenses (including tax)		157 700 89 200		103 000 68 500
Profit		$ 68 500		$ 34 500

Required

Prepare common size statements for the company for both years, and comment on any significant changes.

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Accounting

ISBN: 978-1118608227

9th edition

Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett

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Question Posted: Jun 26, 2019 10:42 AM

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Comparative figures from the statement of profit or loss of Misty Ltd are shown below: 2017 2016

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