Common-Size Income Statement 2016 Revenues $ 29,970 % Cost of goods sold Gross profit Operating expenses (20,030) $ 9,940 % (8,030) Net operating income $ 1,910 % Interest expense (860) Earnings before taxes $ 1,050 Income taxes (382) Net income $ 668
Common-Size Income Statement 2016 Revenues $ 29,970 % Cost of goods sold Gross profit Operating expenses (20,030) $ 9,940 % (8,030) Net operating income $ 1,910 % Interest expense (860) Earnings before taxes $ 1,050 Income taxes (382) Net income $ 668
Fundamentals of Financial Management (MindTap Course List)
15th Edition
ISBN:9781337395250
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Eugene F. Brigham, Joel F. Houston
Chapter4: Analysis Of Financial Statements
Section: Chapter Questions
Problem 24P: Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of...
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Question
Common size percentages
![Common-Size Income Statement 2016
Revenues
$ 29,970
%
Cost of goods sold
(20,030)
Gross profit
$ 9,940
%
Operating expenses
(8,030)
Net operating income
$ 1,910
%
Interest expense
(860)
Earnings before taxes
$ 1,050
%
Income taxes
(382)
Net income
$ 668
%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3ab26ed0-bb8d-4fef-8064-0d8716702644%2F9723a584-c536-4b9a-9f01-02220c6a65d7%2Fh0vzl6s_processed.png&w=3840&q=75)
Transcribed Image Text:Common-Size Income Statement 2016
Revenues
$ 29,970
%
Cost of goods sold
(20,030)
Gross profit
$ 9,940
%
Operating expenses
(8,030)
Net operating income
$ 1,910
%
Interest expense
(860)
Earnings before taxes
$ 1,050
%
Income taxes
(382)
Net income
$ 668
%
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