Common-size and trend percents for Roxi Company’s sales, cost of goods sold, and expenses follow. Determine whether net income increased, decreased, or remained unchanged in this three-year period. Common-Size PercentsTrend PercentsCurrent Yr 1 Yr Ago 2 Yrs Ago Current Yr 1 Yr Ago 2 Yrs AgoSales...100.0%100.0%100.0%105.4%104.2%100.0%Cost of goods sold.63.461.959.1113.1109.1100.0Total expenses..15.314.815.1106.8102.1100.0

A common size income statement is an income statement in which each line item is expressed as a…

Common-Size Percents Trend Percents Current Yr 1 Yr Ago 2 Yrs Ago Current Yr 1 Yr Ago 2 Yrs Ago Sales... 100.0% 100.0% 100.0% 105.4% 104.2% 100.0% Cost of goods sold. 63.4 61.9 59.1 113.1 109.1 100.0 Total expenses.. 15.3 14.8 15.1 106.8 102.1 100.0

Common-Size Percents Trend Percents Current Yr 1 Yr Ago 2 Yrs Ago Current Yr 1 Yr Ago 2 Yrs Ago Sales... 100.0% 100.0% 100.0% 105.4% 104.2% 100.0% Cost of goods sold. 63.4 61.9 59.1 113.1 109.1 100.0 Total expenses.. 15.3 14.8 15.1 106.8 102.1 100.0

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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