Create a comparative common-size income statement for Wolf Corporation. To an investor, how does 2020 compare with 2019? Explain your reasoning

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B C 1123456782===== Wolf Corporation Income Statement For the Years Ended December 31, 2020 and 2019 (amounts in thousands) 2020 2019 Sales revenues $ 458,800 $ 400,000 Less: Cost of goods sold 209,820 195,000 9 Gross profit Less: Operating expenses $ 248,980 $ 205,000 95,670 90,000 10 Operating income $ 153,310 $ 115,000 11 Less: Interest expense 4,250 3,125 12 Income before income taxes $ 149,060 $ 111,875 13 Less: Income tax expense 16,420 11,875 14 Net income 15 $ 132,640 $ 100,000 B C 1123456782===== Wolf Corporation Income Statement For the Years Ended December 31, 2020 and 2019 (amounts in thousands) 2020 2019 Sales revenues $ 458,800 $ 400,000 Less: Cost of goods sold 209,820 195,000 9 Gross profit Less: Operating expenses $ 248,980 $ 205,000 95,670 90,000 10 Operating income $ 153,310 $ 115,000 11 Less: Interest expense 4,250 3,125 12 Income before income taxes $ 149,060 $ 111,875 13 Less: Income tax expense 16,420 11,875 14 Net income 15 $ 132,640 $ 100,000

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Comparative CommonSize Income Statement for Wolf Corporation is given below 2020 201... View the full answer