Question: Using the income statement below, develop a common-size statement by filling in the blanks provided. Show your work. Round to one decimal place. CommonSize Income

Using the income statement below, develop a common-size statement by filling in the blanks provided. Show your work. Round to one decimal place.

Using the income statement below, develop a common-size statement by filling in

CommonSize Income Statement
ACCOUNT	DIVIDE BY	=
Net sales	/	=
Cost of goods sold	/	=
Gross margin	/	=
Operating expenses	/	=
Income before income taxes	/	=
Income taxes expense	/	=
Net income	/	=

2019 Net sales Cost of goods sold Gross margin Operating expenses Income before income taxes Income taxes expense Net income $780,000452,400$327,600156,000$171,600124,800$46,800

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