Express the following income statement information in common-size percents and assess whether the situation is favourable orunfavorable.
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Waterford Corporation Income Statement For Years Ended December 31, 2014 and 2013 2014 Sales.. Cost of goods sold Gross profit from sales Operating expense. 2013 $735,000 382,200 $352,800 148,470 $204,330 $1,056,000 633,600 422,400 237,600
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2014 2013 Sales 1000 1000 Cost of goods sold 600 520 Gross profit from sales 400 480 Operating ex...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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