Data for Collin, Inc. and Gibson Corp. follow: (Click the icon to view the data.) Read...

  

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Data for Collin, Inc. and Gibson Corp. follow: (Click the icon to view the data.) Read the requirements. Data table - X Net Sales Revenue Cost of Goods Sold Other Expenses Net Income S S Collin Gibson 9,000 $ 17,000 5,481 12,478 2,988 3,655 531 S 867 Requirements 1. Prepare common-size income statements. 2. Which company earns more net income? 3. Which company's net income is a higher percentage of its net sales revenue? X Data for Collin, Inc. and Gibson Corp. follow: (Click the icon to view the data.) Read the requirements. Data table - X Net Sales Revenue Cost of Goods Sold Other Expenses Net Income S S Collin Gibson 9,000 $ 17,000 5,481 12,478 2,988 3,655 531 S 867 Requirements 1. Prepare common-size income statements. 2. Which company earns more net income? 3. Which company's net income is a higher percentage of its net sales revenue? X

Answer rating: 100% (QA)

To prepare commonsize income statements we need to express each item as a percentage of net sales re... View the full answer