D Home - nova.edu x Summer | 2022 Acct For Decision X Question 1 - Chapter 14 Assignn X + X -> C https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=08launchUrl=https%253A%252F%252FIms.mhe... A" Chapter 14 Assignment: GRADED Saved Help Save & Exit Submit Check my work Exercise 14.3 (Algo) Common Size Income Statements (LO14-1) 10 Year 2 Year 1 points Sales $ 473,000 $ 424,000 Cost of goods sold 330, 000 268, 000 Gross profit $ 143, 000 156, 000 Operating expenses 130, 000 116, 000 eBook Net income $ 13, 000 $ 40, 000 Print References a. Prepare common size income statements for Price Company, a sole proprietorship, for the two years shown as above by converting the dollar amounts into percentages. For each year, sales will appear as 100 percent and other items will be expressed as a percentage of sales. (Income taxes are not involved as the business is not incorporated.) b. State whether the changes from year 1 to year 2 are favorable or unfavorable. Complete this question by entering your answers in the tabs below. Required A Required B Prepare common size income statements for Price Company, a sole proprietorship, for the two years shown as above by converting the dollar amounts into percentages. For each year, sales will appear as 100 percent and other items will be expressed as a percentage of sales. (Income taxes are not involved as the business is not incorporated. ) (Round your Mc Graw Hill 28'C OLde 11:12 AM 5/21/2022 3 Muy nublado