Question: Prepare a common-size income statement from the following (use net sales as 100%): Net Sales .................$1,000 Cost of Goods Sold ............ 250 Gross Profit from
Prepare a common-size income statement from the following (use net sales as 100%):
Net Sales .................$1,000
Cost of Goods Sold ............ 250
Gross Profit from Sales .......... 750
Operating Expenses ............ 300
Net Income ................ $ 450
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