Requirements 1. Prepare a comparative common-size income statement for Mariner Designs, Inc. using the 2024 and 2023 data. Round percentages to one-tenth percent. 2. To an investor, how does 2024 compare with 2023 ? Explain your reasoning Data tableMariner Designs, Inc.Comparative Income StatementNet IncomeYears Ended December 31, 2024 and 20232024Net Sales RevenueExpenses:Cost of Goods SoldSelling and Administrative ExpensesOther ExpensesTotal Expenses$2023428,950 $ 371,000204,000187,550100,05093,0008,3506,850312,400 287,400116,550 $ 83,600 Requirement 1. Prepare a comparative common-size income statement for MarinerDesigns, Inc. using the 2024 and 2023 data. Round percentages to one-tenth percent.(Round the percentages to one-tenth percent, X.X. Enter the percentages without the%. For example, enter 1.1% as 1.1.)Net Sales RevenueExpenses:Mariner Designs, Inc.Common-Size Income StatementYears Ended December 31, 2024 and 20232024 %Net IncomeCost of Goods SoldSelling and Administrative ExpensesOther ExpensesTotal Expenses100.0%%%de de%%%2023 %100.0%%%%%%

COMPARATIVE INCOME STATEMENT Comparative income statements which show a company's income…

Requirement 1. Prepare a comparative common-size income statement for Mariner Designs, Inc. using the 2024 and 2023 data. Round percentages to one-tenth percent. (Round the percentages to one-tenth percent, X.X. Enter the percentages without the %. For example, enter 1.1% as 1.1.) Net Sales Revenue Expenses: Mariner Designs, Inc. Common-Size Income Statement Years Ended December 31, 2024 and 2023. 2024% Net Income Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses 100.0 % % % % % % 2023 % 100.0 % % % % % %

Requirement 1. Prepare a comparative common-size income statement for Mariner Designs, Inc. using the 2024 and 2023 data. Round percentages to one-tenth percent. (Round the percentages to one-tenth percent, X.X. Enter the percentages without the %. For example, enter 1.1% as 1.1.) Net Sales Revenue Expenses: Mariner Designs, Inc. Common-Size Income Statement Years Ended December 31, 2024 and 2023. 2024% Net Income Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses 100.0 % % % % % % 2023 % 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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