Question: How is a common-size income statement prepared? Select one: a. Each income statement item is expressed as a percentage of total assets. b. Each income

How is a common-size income statement prepared? Select one: a. Each income statement item is expressed as a percentage of total assets. b. Each income statement item is expressed as a percentage of net sales. c. Each income statement item is expressed as a percentage of net income. d. Each income statement item is expressed as a percentage of cash flow.

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