Accounting 2 Ch 14 Common Size Income Statement

Exercise 14-1 (Algo) Common-Size Income Statement [LO14-1] 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 $235,300 when sales increased by 51,768,800 Required: Required: 1. Express cach 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)A Members of the company's board of directors are surprised to see that net income increased by only $235,300 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).)