Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Current Year Sales Cost of goods sold Operating expenses Common-Size Percents 1 Year Ago 100.0% 63.2 14.2 Trend Percents 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? Current Year 100.0% 57.6 14.0 1 Year Ago 103.9% 114.0 105.4 2 Years Ago 102.7% 108.8 100.5 100.0 100.0 100.0

Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Current Year Sales Cost of goods sold Operating expenses Common-Size Percents 1 Year Ago 100.0% 63.2 14.2 Trend Percents 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? Current Year 100.0% 57.6 14.0 1 Year Ago 103.9% 114.0 105.4 2 Years Ago 102.7% 108.8 100.5 100.0 100.0 100.0

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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