1) When preparing a common size balance sheet, each item is presented as a percentage of

	a.	net sales
	b.	total assets
	c.	total equity
	d.	net income

2) net sales - C/G/S) / net sales equals

	a.	net profit margin
	b.	gross income
	c.	net income
	d.	gross profit margin

3) How is net profit margin calculated?

	a.	net income / net sales
	b.	gross profit / net sales
	c.	net income / gross sales
	d.	gross profit / gross sales