The following information is taken from the financial statements of Clybourn Company for the current year: Current Assets $408,000 Total Assets 903,000 Cost of Goods Sold 663,000 Gross Profit 213,000 Net Income 133,000 On a common size income statement for the year, what is the percentage that would be shown next to the dollar amount of sales revenue? Multiple Choice 100% 15% 62% Cannot be determined
The following information is taken from the financial statements of Clybourn Company for the current year: Current Assets $408,000 Total Assets 903,000 Cost of Goods Sold 663,000 Gross Profit 213,000 Net Income 133,000 On a common size income statement for the year, what is the percentage that would be shown next to the dollar amount of sales revenue? Multiple Choice 100% 15% 62% Cannot be determined
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following information is taken from the financial statements of Clybourn Company
for the current year:
Current Assets
$408,000
Total Assets
903,000
Cost of Goods Sold
663,000
Gross Profit
213,000
Net Income
133,000
On a common size income statement for the year, what is the percentage that would be
shown next to the dollar amount of sales revenue?
Multiple Choice
100%
15%
62%
O Cannot be determined
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