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Consider the following income statement data from the Ross Company: 2013 2012 Sales revenue $545,000 $460,000 Cost of goods sold 336,000 279,000 Selling expenses 105,000
Consider the following income statement data from the Ross Company:
2013 | 2012 | |
---|---|---|
Sales revenue | $545,000 | $460,000 |
Cost of goods sold | 336,000 | 279,000 |
Selling expenses | 105,000 | 99,000 |
Administrative expenses | 70,000 | 64,000 |
Income tax expense | 17,800 | 15,400 |
Prepare common-size income statements for each year.
Note: Round answers to one decimal place (ex: 0.2345 = 23.5%).
ROSS COMPANY Common-Size Income Statements (Percent of Sales Revenue) | ||||
---|---|---|---|---|
2013 | 2012 | |||
Sales Revenue | Answer
| Answer
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Cost of Goods Sold | Answer
| Answer
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AnswerGross Profit on SalesOperating ExpensesIncome Tax ExpenseNet Income
| Answer
| Answer
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AnswerGross Profit on SalesOperating ExpensesIncome Tax ExpenseNet Income
| ||||
Selling Expenses | Answer
| Answer
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Administrative Expenses | Answer
| Answer
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Total | Answer
| Answer
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Income before Income Taxes | Answer
| Answer
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AnswerGross Profit on SalesOperating ExpensesIncome Tax ExpenseNet Income
| Answer
| Answer
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AnswerGross Profit on SalesOperating ExpensesIncome Tax ExpenseNet Income
| Answer
| Answer |
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