Prepare a comparative common-size income statement for Spellbound Designs using the 2012 and 2011 data of Exercise

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Prepare a comparative common-size income statement for Spellbound Designs using the 2012 and 2011 data of Exercise 14-13A. To an investor, how does 2012 compare with 2011? Explain your reasoning.
Data of Exercise 14-13A

Why did net income increase by a higher percentage than net sales revenue during 2012?

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Managerial Accounting

ISBN: 978-0132890540

3rd edition

Authors: Karen W. Braun, Wendy M. Tietz

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Question Posted: Nov 25, 2016 10:51 AM

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Prepare a comparative common-size income statement for Spellbound Designs using the 2012 and 2011 data of Exercise

Question:

Spellbound Designs Comparative Income Statements Years Ended December 31, 2012 and 2011 2012 2011 Net sales revenue Expenses: Selling and general expense$120,960 $105,000 30,240 21,000 5393,120 $336,000 $110,880 84,000 Other expense Total expenses Net income

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