On a common size income statement, each item is stated as a percentage of which income statement account? Select one: a. Operating income b. Net Income c. Net sales d. Cost of goods sold Question 12 Not yet answered Points out of 2.00 P Flag question questi In trend analysis, over multiple years, each item is expressed as a percentage of what amount? Select one: a. Net sales b. Average total assets c. The base year (first year of trend) d. Net income