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In a trend income statement where 2014 is the base year, sales for 2016 are expressed as a. 87.2%. b. 100.0%. c. 114.7%. d. 148.7%.
In a trend income statement where 2014 is the base year, sales for 2016 are expressed as
a. | 87.2%. |
b. | 100.0%. |
c. | 114.7%. |
d. | 148.7%. |
Manero Company included the following information in its annual report:
2016 | 2015 | 2014 | |
Sales | $178,400 | $162,500 | $155,500 |
Cost of goods sold | 115,000 | 102,500 | 100,000 |
Operating expenses | 50,000 | 50,000 | 45,000 |
Net income | 13,400 | 10,000 | 10,500 |
Refer to Manero. In a common size income statement for 2016, the operating expenses are expressed as
a. | 28.0%. |
b. | 30.3%. |
c. | 43.8%. |
d. | 100.0%. |
In a trend income statement where 2014 is the base year, sales for 2014 are expressed as
a. | 84.4%. |
b. | 92.6%. |
c. | 100.0%. |
d. | 150.5%. |
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