Question: 7 Exercise 17-5 Determining income effects from common-size and trend percents LO P1, P2 Common-size and trend percents for Rustynall Company's sales, cost of goods

LO P1, P2 Common-size and trend percents for Rustynall Company's sales, cost

of goods sold, and expenses follow, Sales Cast of goods sold Total

Exercise 17-5 Determining income effects from common-size and trend percents LO P1, P2 Common-size and trend percents for Rustynall Company's sales, cost of goods sold, and expenses follow, Sales Cast of goods sold Total expenses Common Size Percents Current Ye 1 yr ago 2 Yrs Ago 100.0% 100.0% 100.0% 63.5 61.3 57.8 14.4 13.9 Current y 104.8 115.1 106.4 Trend Percents 1 YAO 103. 102 101.4 2 yrs ago 100. 100.0 100.0 Determine the net income for the following years Did the net income increase, decrease or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Net Income Change in Net Income Determine the net income for the following years. (Enter all amounts as positive values.) Current Yi 1 Yr Ago Sales Cost of Goods Sold Total Expenses Net Income 2 Yrs Ago $ 100,000 57,800 14,200 $ 28.000 Change in Net Income > Net Income Change in Net Income Did the net income increase, decrease, or remain unchanged in this three-year period? Did the net income increase, decrease or remain unchanged in this three-year period?

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