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Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow. Common-Size Percents Current Yr 1 Yr Ago 2 Yrs Ago
Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow. Common-Size Percents Current Yr 1 Yr Ago 2 Yrs Ago Sales 100.0% Cost of goods sold Total expenses 63.7 14.2 100.0% 61.5 100.0% 57.5 Current Yr 103.8% 115.0 13.7 14.0 105.3 Trend Percents 1 Yr Ago 102.6% 109.7 100.4 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Net Income Change in Net Income Determine the net income for the following years. (Enter all amounts as positive values.) Sales Cost of Goods Sold Total Expenses Net Income Current Yr 1 Yr Ago 2 Yrs Ago $ 100,000 57,500 14,000 $ 28,500 < Net Income Change in Net Income > 2 Yrs Ago 100.0% 100.0 100.0 Change in Net Net Income Income Did the net income increase, decrease, or remain unchanged in this three-year period? Did the net income increase, decrease, or remain unchanged in this three-year period? < Net Income Change in Net Income
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