Question: A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: Members of the company's board of directors are surprised to see that

A comparative income statement is given below for McKenzie Sales, Ltd.,
of Toronto: Members of the company's board of directors are surprised to

A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: Members of the company's board of directors are surprised to see that net income increased by only $202,400 when sales increased by $1,766,400. Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3 ).)

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