Question: A comparative income statement is given below for McKenzie Sales, Limited, 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, Limited, of Toronto: Members of the company's board of directors are surprised to see that net income increased by only $114,800 when sales increased by $1,768,800. Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (l.e 0.1234 should be entered as 12.3).) McKenzie Sales, Limited Comparative Income Statement Members of the company's board of directors are surprised to see that net income increased by only $114,800 when sales nereased by $1,768,800. 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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