Calculate the common-size percentages for the following income statement: Net sales Common-sized % % Data table Cost

Calculate the common-size percentages for the following income statement:

Transcribed Image Text:

Net sales Common-sized % % Data table Cost of goods sold % Gross profit % Operating expense % Operating income % Income tax expense % Net income % - Net sales Cost of goods sold Gross profit Operating expense EA $ 300,000 90,000 210,000 87,000 Operating income 123,000 Income tax expense 27,000 $ 96,000 Net income Print Done Net sales Common-sized % % Data table Cost of goods sold % Gross profit % Operating expense % Operating income % Income tax expense % Net income % - Net sales Cost of goods sold Gross profit Operating expense EA $ 300,000 90,000 210,000 87,000 Operating income 123,000 Income tax expense 27,000 $ 96,000 Net income Print Done

Answer rating: 100% (QA)

To complete the commonsized percentage data table we can calculate the percentages for each line ite... View the full answer