Question: Answer question. Analyze the common size income statements below for 3T Company: 2015 2014 Net sales 100% 100% COGS 89 87 Gross margin 11% 13%

Answer question.

Analyze the common size income statements below for 3T Company:

2015

2014

Net sales

100%

100%

COGS

89

87

Gross margin

11%

13%

Selling, general and administrative

7

9

Restructuring, asset impairments and other charges

0

9

Income/(loss) from operations

4%

(5)%

Interest expense

(1)

(2)

Income/(loss) before taxes

3%

(7%)

Provision for/(benefit from) income taxes

1

0

Income/(loss) after taxes

2%

(7)%

Discontinued operations, net

6

1

Net income (loss)

8%

(6)%

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