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Compute common-size percents for the following comparative income statements spanning 2 years. Sales Cost of goods sold Operating expenses Gross profit Net income Comparative
Compute common-size percents for the following comparative income statements spanning 2 years. Sales Cost of goods sold Operating expenses Gross profit Net income Comparative Income Statements For Years Ended December 31 Current Year $ 1,310,000 786,000 524,000 366,800 Prior Year $ 1,110,000 643,800 466,200 321,900 $ 157,200 $ 144,300 Sales Cost of goods sold Gross profit Operating expenses Net income Comparative Income Statements For Years Ended December 31 Current Year Prior Year $ percent $ percent $ 1,310,000 $ 1,110,000 786,000 643,800 524,000 466,200 366,800 321,900 $ 157,200 $ 144,300
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