Question
Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) GOMEZ CORPORATIONComparative Income StatementsFor Years Ended December 31Current
Express the following comparative income statements in common-size percents.(Round your percentage answers to 1 decimal place.)
GOMEZ CORPORATIONComparative Income StatementsFor Years Ended December 31Current YearPrior Year$%$%Sales$
800,000100.0$
675,000Cost of goods sold570,800291,000Gross profit229,200384,000Operating expenses129,200273,200Net income$
100,000$
110,800
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Financial and Managerial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
3rd edition
978-1-119-3916, 1119392132, 1119392136, 9781119391609, 1119391601, 978-1119392132
