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Benson Corporation reported the following operating results for two consecutive years: Required a. Compute the percentage changes in Benson Corporation's income statement components between the
Benson Corporation reported the following operating results for two consecutive years: Required a. Compute the percentage changes in Benson Corporation's income statement components between the two years. (Negative amounts should be indicated by a minus sign. Round your percentage answers to 1 decimal place. (i.e., 0.234 should be entered as 23.4).) BENSON CORPORATION Income Statements Year 3 Year 2 Percentage Change % Sales $ 1,000,000 $ 1,297,000 797,655 Cost of goods sold Gross margin Operating expenses 600,000 400,000 196,000 Income before taxes 499,345 305,000 194,345 61,400 132,945 Income taxes 204,000 52,900 151,100 Net income (loss) $ $ %
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