Compute common-size percents for the following comparative Income statements spanning 2 years. Comparative Income Statements For Years Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Net income Salles Cost of goods sold Gross profit Operating expenses Net income Comparative Income Statements For Years Ended December 31 Current Year $ 1,230,000 799,500 430,500 307,500 123,000 S Current Year $ 1.230.000 799,568 436.566 367, 563 $ 123.888 S percent 3 Prior Year $ 1,638,000 648,988 381 160 267,300 $ 113.338 MINGILIMMIN Prior Year 13 11.090.000 848.900 381.100 267.800 113.300 percent

Compute common-size percents for the following comparative Income statements spanning 2 years. Comparative Income Statements For Years Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Net income Salles Cost of goods sold Gross profit Operating expenses Net income Comparative Income Statements For Years Ended December 31 Current Year $ 1,230,000 799,500 430,500 307,500 123,000 S Current Year $ 1.230.000 799,568 436.566 367, 563 $ 123.888 S percent 3 Prior Year $ 1,638,000 648,988 381 160 267,300 $ 113.338 MINGILIMMIN Prior Year 13 11.090.000 848.900 381.100 267.800 113.300 percent

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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