Question: Prepare an income statement and a common-sized income statement from the following information. Income Statement and Common-Sized Income Statement: Sales Cost of goods sold Gross

Prepare an income statement and a common-sized income statement from the

Prepare an income statement and a common-sized income statement from the following information. Income Statement and Common-Sized Income Statement: Sales Cost of goods sold Gross profits General & administrative expenses Depreciation expense Total operating expense Operating income (EBIT) Interest expense Earnings before taxes Taxes (40%) Net income

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