The following figures are found on an income statement: 

Sales $300 Total Expenses $240 Net Income $60 After the income statement has been converted to common-size form, which of the following statements would be correct? a) Total Expenses is expressed as 85%. 

Ob) Net Income is expressed as 100%.

c) Sales is expressed as 50%. 

d) None of the above.

( e) Net Income is expressed as 60%.

Answer rating: 100% (QA)

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