a. Prepare a common-sized income statement comparing the results of operations for Sorenson Electronics Company with the industry average. If required, round percentages to one decimal place. Sorenson Electronics Company Common-Sized Income Statement Sorenson Electronics Sorenson Electronics Electronics Industry Company Percent Company Amount Average Sales $1,570,000 100% Cost of Goods Sold (910,600) % (64)%

a. Prepare a common-sized income statement comparing the results of operations for Sorenson Electronics Company with the industry average. If required, round percentages to one decimal place. Sorenson Electronics Company Common-Sized Income Statement Sorenson Electronics Sorenson Electronics Electronics Industry Company Percent Company Amount Average Sales $1,570,000 100% Cost of Goods Sold (910,600) % (64)%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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