Question: Exercise I (10 points) Express the following income statement information in common-size percents and assess whether this company's situation is farcrable or unfavorable. CLARO CORPORATION

Exercise I (10 points) Express the following income statement information in

Exercise I (10 points) Express the following income statement information in common-size percents and assess whether this company's situation is farcrable or unfavorable. CLARO CORPORATION Comparative Income Statement For Years Ended December 31, 2018 and 2019 2019 2018 Sales $1,000,000 $1,200,000 COGS $670,000 $695,000 Gross Profit $330,000 $505,000 Operating Expenses $151,000 $160,000 Net Income $179,000 $345,000

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