Question: Using the following data, prepare a common-size incomestatement. Sales. Cost of goods sold. Gross profit Operating expenses: Sales and marketing General and administrative Total operating

Using the following data, prepare a common-size incomestatement.

Sales. Cost of goods sold. Gross profit Operating expenses: Sales and marketing General and administrative Total operating expenses Operating income. Interest expense. Income before income taxes Income tax expense Net income $75,000 $35,000 $3,000 8,000 11,000 $24,000 $20,000 $16,500

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