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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Common-size and trend percentages for a company's net sales, cost of goods sold, and expenses follow
Common-Size Percentages
Trend Percentages
2023
100.0%
2021
100.0%
2022
106.2%
56.4
27.0
Net sales
Cost of goods sold
Expenses
2021
2022
2023
2022
100.ex
54.3
23.6
Profit Percentage
%
%
%
50.0
25.8
2023
107.7%
115.4
108.1
118.7
103.4
2021
100.0%
Required:
a. Calculate the profit percentage for 2021, 2022 and 2023. (Round the final answers to 2 decimal places.)
100.0
100.0
Transcribed Image Text:b. Determine whether the company's profit increased, decreased, or remained unchanged during this three-year period.
Profit
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