Question: Prepare an income statement and a common- sized income statement from the following information. Sales............... $ 525,000 Cost of goods sold......... 200,000 General and administrative

Prepare an income statement and a common- sized income statement from the following information.
Sales............... $ 525,000
Cost of goods sold......... 200,000
General and administrative expenses... 62,000
Depreciation expenses....... 8,000
Interest expense........... 12,000
Income taxes............ 97,200

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