Consider the following income statement data for Ivanhoe Inc.: Sales revenue Less: Cost of goods sold Gross profit Less: Selling and administration costs Net Income 2024 O 75.9% O 23.0% O 43.2% O 20.2% $98700 46100 52600 22701 $29899 2023 $87900 56000 31900 18800 $13100 The common-size percentage for selling and administration costs in 2024 was
Consider the following income statement data for Ivanhoe Inc.: Sales revenue Less: Cost of goods sold Gross profit Less: Selling and administration costs Net Income 2024 O 75.9% O 23.0% O 43.2% O 20.2% $98700 46100 52600 22701 $29899 2023 $87900 56000 31900 18800 $13100 The common-size percentage for selling and administration costs in 2024 was
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Consider the following income statement data for Ivanhoe Inc.:
Sales revenue
Less: Cost of goods sold
Gross profit
Less: Selling and administration costs
Net Income
2024
O 75.9%
O 23.0%
O 43.2%
O 20.2%
$98700
46100
52600
22701
$29899
2023
$87900
56000
31900
18800
$13100
The common-size percentage for selling and administration costs in 2024 was](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7fe5a73-45e4-4166-8ba1-50e355550dfc%2F04529987-0e77-4fb7-93fc-b74605942a6c%2Fkthj7z_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Consider the following income statement data for Ivanhoe Inc.:
Sales revenue
Less: Cost of goods sold
Gross profit
Less: Selling and administration costs
Net Income
2024
O 75.9%
O 23.0%
O 43.2%
O 20.2%
$98700
46100
52600
22701
$29899
2023
$87900
56000
31900
18800
$13100
The common-size percentage for selling and administration costs in 2024 was
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