Question: Preparing Income Statements by Using Net Sales as the Base: Vertical Analysis Scherer Company provided the following income statements for its first 3 years of


Preparing Income Statements by Using Net Sales as the Base: Vertical Analysis Scherer Company provided the following income statements for its first 3 years of operation: Required: Prepare common-size income statements by using net sales as the base. (Note: Enter all amounts as positive numbers, except for a net loss, negative number, if applicable. Round answers to the nearest whole percentage. Percentages may not calculate down.) Prepare common-size income statements by using net sales as the base. (Note: Enter all amounts as positive numbers, except for a net loss. Enter negative number, if applicable. Round answers to the nearest whole percentage. Percentages may not calculate down.)
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