Common-size percentages are often used to compare the statements of companies of unequal size. The condensed income
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Common-size percentages are often used to compare the statements of companies of unequal size. The condensed income statements of Companies A and B are given below. Enter in the spaces provided the amounts expressed in common-size percentages.
Company A Company B
Sales $450,000 $525,000
Cost of goods sold $261,000 $210,000
Gross margin $189,000 $315,000
Selling expenses $81,000 $89,250
Administrative expenses $45,000 $52,500
Total operating expenses $126,000 $141,750
Income $63,000 $173,250
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