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Express the following income statement information in common-size percents (round to nearest whole percent). Comment on the financial results...

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Express the following income statement information in common-size percents (round to nearest whole percent). 

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Express the following income statement information in common-size percents (round to nearest whole percent). Comment on the financial results in 2018 vs 2017. Thorsten Corp. Comparative Income Statements For Years Ended December 31, 2017 and 2018 2018 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Net profit $1,200,000 804,000 396,000 132,000 180,000 $84,000 2017 $1,000,000 650,000 $350,000 120,000 150,000 $80,000 Prepare a waterfall chart to show the increase/decrease from sales to net profit for year 2012. Compare that with 2011 to see if there are significant changes.

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Here are the common size percentages for Thorsten Corp s income statement for the years 2017 and 201 View the full answer


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Financial Accounting Information for Decisions

Financial Accounting Information for Decisions

ISBN: 978-1259917042

9th edition

Authors: John J. Wild

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Question Details
Chapter # 12
Section: Problem Set B
Problem: 2
Posted Date: September 30, 2023 07:51:36
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