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Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Common-Size Percents Trend Percents Current 1 Year Year Ago 103.9% 102.7% 116.8 111.5 105.4 100.5 Sales Cost of goods sold Operating expenses Change in Net Income Current Year 100.0% 63.2 14.2 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Net Income 1 Year 2 Years Ago Ago 100.0% 100.0% 61.0 56.2 13.7 14.0 Sales Cost of Goods Sold Operating Expenses Net Income Determine the net income for the following years. Assuming sales were $100,000 2 yrs ago, what is net income in each year? Note: Enter all amounts as positive values. Current Year 1 Year Ago 2 Years Ago $ 2 Years Ago 100.0% 100.0 100.0 $ 100,000 56,200 14,000 29,800

Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Common-Size Percents Trend Percents Current 1 Year Year Ago 103.9% 102.7% 116.8 111.5 105.4 100.5 Sales Cost of goods sold Operating expenses Change in Net Income Current Year 100.0% 63.2 14.2 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Net Income 1 Year 2 Years Ago Ago 100.0% 100.0% 61.0 56.2 13.7 14.0 Sales Cost of Goods Sold Operating Expenses Net Income Determine the net income for the following years. Assuming sales were $100,000 2 yrs ago, what is net income in each year? Note: Enter all amounts as positive values. Current Year 1 Year Ago 2 Years Ago $ 2 Years Ago 100.0% 100.0 100.0 $ 100,000 56,200 14,000 29,800

FINANCIAL ACCOUNTING
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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Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Sales Cost of goods sold Operating expenses Change in Net Income Common-Size Percents Net Income Current Year 100.0% 63.2 14.2 Sales Cost of Goods Sold Operating Expenses Net Income 1 Year 2 Years Ago 100.0% 61.0 13.7 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Ago 100.0% 56.2 14.0 Current Year Determine the net income for the following years. Assuming sales were $100,000 2 yrs ago, what is net income in each year? Note: Enter all amounts as positive values. 1 Year Ago Trend Percents Current Year 103.9% 116.8 105.4 < Change in Net Income $ Years Ago 1 Year 2 Years Ago Ago 102.7% 100.0% 111.5 100.0 100.5 100.0 100,000 56,200 14,000 29,800 Net Income
Transcribed Image Text:Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Sales Cost of goods sold Operating expenses Change in Net Income Common-Size Percents Net Income Current Year 100.0% 63.2 14.2 Sales Cost of Goods Sold Operating Expenses Net Income 1 Year 2 Years Ago 100.0% 61.0 13.7 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Ago 100.0% 56.2 14.0 Current Year Determine the net income for the following years. Assuming sales were $100,000 2 yrs ago, what is net income in each year? Note: Enter all amounts as positive values. 1 Year Ago Trend Percents Current Year 103.9% 116.8 105.4 < Change in Net Income $ Years Ago 1 Year 2 Years Ago Ago 102.7% 100.0% 111.5 100.0 100.5 100.0 100,000 56,200 14,000 29,800 Net Income
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