File Home insert Page Layout Formulas Data Review View Help $ - % $ % 9 *888 2 9 BTWO . O.A. E E Merge Center - Ciphard Font Alignment GET NEW OFTKE MOBILE APP te productive on the go with the new Office app Get Office Conditional Formatas Cell Formatting Table Styles Styles DEFG 4 Common-Size Income Statement 6 Sew Mart's comparative income statement is shown below: Sew Mart Comparative Income Statement 20x9 20x8 $7,300,000 $4,600,000 $2,700,000 $5,548,000 $3,511,500 $2,036,500 Sales Cost of goods sold Gross margin Selling and adminstrative expenses: Selling expenses Administrative expenses Total expenses Net operating income Process Costing Master But t $1,388,000 $1,078,000 $711,500 5611.500 $2,099,500 $1,689,500 $600,500 $347,000 Statement of Cash Flow Financial Statement Analysis Budgeting Decisions * Type here to search Lenovo 005068 BEE ZADOR Astebe A i o Studenter- - Page Layout Fle Home Insert ACT225 Portfol Formulas A Share Comments Calibri A - GET NIW OFFICE MOBILE APP on the go with the Office Get Office Total expenses Net operating income Interest expense Net income before taxes $2,099,500 $600,500 $98,000 $502,500 $1,689,500 $347,000 S90,000 S257.000 2. During the fiscal year review, the management team was alarmed that net income only increased by $ when sales were at record levels in 209,5 Required: Express each year's income statement in common sired percentages. Comment on the management team's concerns about net income and the changes between the two 1. Common sized income statement (Round your percentage answers to 1 decimal place ... 0.1234 should be entered as 12,3). Sew Mart Common-Size Comparative Income Statement Common.Size Percentages - Process costing Bet Capt i ons of on O Type here to search A4 ENG Lenovo JUDUODU E . A Pale Calbini BIV -111 O -A A . A. Wap Test Merge Center - $ - % Conditional Formatas Cell Formatting Table Styles Alignment GET NIW OFFICE MOULE APP Be productive on the go with the new Office app. Get Office 51 . X E Sew Mart Common-Size Comparative Income Statement Common-Size Percentages 20x9 20x8 Sales Cost of goods sold Gross margin Selling and adminstrative expenses: Selling expenses Administrative expenses Total expenses Net operating income Interest expense Net income before taxes Process Costing Master Budget Capital Budgeting Decision Statement of cash flow Financial Statement Analysis te e W - Type here to search Lenovo J005068 BF -WERUNUDOPE