Vaibhav Common-size and trend percentages for a company's net sales, cost of goods sold, and expenses followCommon-Size PercentagesTrend Percentages2023100.0%2021100.0%2022106.2%56.427.0Net salesCost of goods soldExpenses2021202220232022100.ex54.323.6Profit Percentage%%%50.025.82023107.7%115.4108.1118.7103.42021100.0%Required:a. Calculate the profit percentage for 2021, 2022 and 2023. (Round the final answers to 2 decimal places.)100.0100.0 b. Determine whether the company's profit increased, decreased, or remained unchanged during this three-year period.Profit

Ratio analysis used identify the business performance of the company.It is used to measure financial…

Common-size and trend percentages for a company's net sales, cost of goods sold, and expenses follow. Common-Size Percentages Trend Percentages 2022 106.2% Net sales Cost of goods sold Expenses 2021 2022 2023 2023 100.0% Profit Percentage 56.4 27.0 2022 100.0% 54.3 23.6 2021 100.0% 50.0 25.8 2023 107.7% 115.4 108.1 110.7 103.4 Required: a. Calculate the profit percentage for 2021, 2022 and 2023. (Round the final answers to 2 decimal places.) 2021 100.0% 100.0 100.0

Common-size and trend percentages for a company's net sales, cost of goods sold, and expenses follow. Common-Size Percentages Trend Percentages 2022 106.2% Net sales Cost of goods sold Expenses 2021 2022 2023 2023 100.0% Profit Percentage 56.4 27.0 2022 100.0% 54.3 23.6 2021 100.0% 50.0 25.8 2023 107.7% 115.4 108.1 110.7 103.4 Required: a. Calculate the profit percentage for 2021, 2022 and 2023. (Round the final answers to 2 decimal places.) 2021 100.0% 100.0 100.0

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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