Compute common-size percents for the following comparative Income statements spanning 2 years. Comparative Income Statements For...

Transcribed Image Text:

Compute common-size percents for the following comparative Income statements spanning 2 years. Comparative Income Statements For Years Ended December 31 Current Yeal Sales Cost of goods sold Gross profil Net income Operating expenses Prifor Year $ 1,340,000 371.000 $ 1,140,000 718 200 469.666 180.606 421 360 342,000 Comparative Income Statements For Years Ended December 31 Current Year percent Prior Year percent Sales 1,340,000 1.140,000 Cost of goods sold 871,000 718.200 Gross profit 469.000 Operating expenses 388,600 Net income 80,400 421 800 342,000 79,800 Compute common-size percents for the following comparative Income statements spanning 2 years. Comparative Income Statements For Years Ended December 31 Current Yeal Sales Cost of goods sold Gross profil Net income Operating expenses Prifor Year $ 1,340,000 371.000 $ 1,140,000 718 200 469.666 180.606 421 360 342,000 Comparative Income Statements For Years Ended December 31 Current Year percent Prior Year percent Sales 1,340,000 1.140,000 Cost of goods sold 871,000 718.200 Gross profit 469.000 Operating expenses 388,600 Net income 80,400 421 800 342,000 79,800

Answer rating: 100% (QA)

To compute commonsize percents for the comparative income statemen... View the full answer