Net sales Cost of goods sold Expenses 2021 2022 Common-Size Percentages Profit Percentage (75.30) % 2023 100.0% 54.0 22.3 2022 100.0% 52.1 20.0 2021 100.0% 48.6 21.7 Trend Percentages 2022 106.5% 111.4 104.6 2023 108.0% 117.1 110.5 2021 100.0% 100.0 100.0 Required: a. Calculate the profit percentage for 2021, 2022 and 2023. (Round the final answers to 2 decimal place foll
Net sales Cost of goods sold Expenses 2021 2022 Common-Size Percentages Profit Percentage (75.30) % 2023 100.0% 54.0 22.3 2022 100.0% 52.1 20.0 2021 100.0% 48.6 21.7 Trend Percentages 2022 106.5% 111.4 104.6 2023 108.0% 117.1 110.5 2021 100.0% 100.0 100.0 Required: a. Calculate the profit percentage for 2021, 2022 and 2023. (Round the final answers to 2 decimal place foll
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Net sales
Cost of goods sold
Expenses
2021
2022
2023
Profit Percentage
(75.30) %
%
%
Common-Size Percentages
2023
100.0%
54.0
22.3
sales, cost of goods sold, and expenses follow:
Trend Percentages
2022
106.5%
111.4
104.6
2022
100.0%
52.1
20.0
2021
100.0%
48.6
21.7
2023
108.0%
117.1
110.5
Required:
a. Calculate the profit percentage for 2021, 2022 and 2023. (Round the final answers to 2 decimal places.)
2021
100.0%
100.0
100.0
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