Question: Express the partial comparative income statements that follow as common size statements, and comment on the changes from 20x7 to 20x8. (Round computations to one

Express the partial comparative income statements that follow as common size statements, and comment on the changes from 20x7 to 20x8. (Round computations to one decimal place.)
Davis Company
Partial Comparative Income Statements
For the Years Ended December 31, 20x8 and 20x7

20x8 20x7 Net sales Cost of goods sold $212,000 $184,000 119,600 127,200 Gross margin Selling expenses General expenses $84,800 64,400 $53,000 36,800 18,400 otal operating expenses 78,440 55,200 25,440 Operating income $ 6,360 9,200

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