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Can I please get some help? The following condensed income statement is for Bustone Inc. ........ ...... Bustone Inc. Income Statement ..... For the years
Can I please get some help?
The following condensed income statement is for Bustone Inc. ........" ...... Bustone Inc. Income Statement ..... For the years ended Dec. 31, 2022 and 2021 .......... 2022 2021 ......... ...... ......... Net sales 19,000 12,000 Cost of goods sold 12,000 ..... 8,000 Gross margin 7,000 4,000 ..... Selling and administrative expenses 5,000 3,000 Operating income 2,000 1,000 Other expense, net 300 Income before taxes 1,800 700 .... Income tax expense 400 200 Net income 1,400 500 Required: Prepare a common-size analysis of the income statements for 2022 and 2021. (Round percent computations to one decimal place.) ....... Your answers to this open-ended assignment should be placed in the space below this line. Bustone Inc. Common Size Income statements For the Years Ended December 31, 2022 and 2021 Nat sales Cost of goods sold Gross margin Selling and administrative expenses Operating income Other expense, net Income before taxes Income tax expense Net incomeStep by Step Solution
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