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Long Pond Company has these common-size income statements for Year 1 and Year 2: Year 1 Year 2 Sales 100% 100% Cost of Goods Sold

Long Pond Company has these common-size income statements for Year 1 and Year 2: Year 1 Year 2 Sales 100% 100% Cost of Goods Sold 45% 45% Wage Expense 30% 21% Rent Expense 4% 20% Advertising Expense 10% 10% Net Income 11% 4% Which ONE of the following statements is true? In Year 2, Rent Expense is a problem. In Year 2, Advertising Expense is a problem. In Year 2, Cost of Goods Sold is a problem. In Year 2, Wage Expense is a

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