Common-size and trend percentages for a companys net sales, cost of goods sold, and expenses follow: Required
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Required
Determine whether the companys net income increased, decreased, or remained unchanged during this three-yearperiod.
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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
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Related Book For
Fundamental Accounting Principles Volume II
ISBN: 978-1259066511
14th Canadian Edition
Authors: Larson Kermit, Jensen Tilly
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