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Data for Gomez, Inc. and Gibson Corp. follow: B (Click the icon to view the data.) Read the requirements. Requirement 1. Prepare common-size income statements.
Data for Gomez, Inc. and Gibson Corp. follow: B (Click the icon to view the data.) Read the requirements. Requirement 1. Prepare common-size income statements. (Round your answers to one decimal place, X.X%.) Gomez Versus Gibson Common-Size Income Statement (Partial) Year Ended December 31 Gomez % Gibson % Net Sales Revenue % % % Cost of Goods Sold % Data Table Other Expenses % % Net Income % % Gomez Gibson Net Sales Revenue $ 15,000 $ 24,000 17,184 Cost of Goods Sold 9,165 4,950 X Other Expenses 5,616 Requirements $ 885 $ 1,200 Net Income Print Done 1. Prepare common-size income statements. 2. Which company earns more net income? 3. Which company's net income is a higher percentage of its net sales revenue? Print Done
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