Answered step by step
Verified Expert Solution
Question
1 Approved Answer
need help asap!! please & thank you!! 3. The comparative income statement of O'Neil Music Co. for the years ended December 31, 2018 and 2017
need help asap!! please & thank you!!
3. The comparative income statement of O'Neil Music Co. for the years ended December 31, 2018 and 2017 is as follows: Click the icon to view the comparative income statement.) Requirement 1. Prepare a comparative common-size income statement for O'Neil Music Co. (Round your answers to cne-hundredth of a percent, XXX%.) 2017 % % % % % % % % % % O'Neil Music Co. Comparative Common-Size Income Statements Years Ended December 31, 2018 and 2017 2018 Total revenue Expenses: Cost of goods sold Selling and general expenses Interest expense Income tax expense % Total expenses Net income 3: Data Table O'Neil Music Co. Comparative Income Statements Years Ended December 31, 2018 and 2017 2018 Total revenue $ 836,000 $ Expenses: Cost of goods sold 408,000 $ Selling and general expenses 238,000 Interest expense 9.500 79.000 Income tax expense 734,500 Total expenses $ 101.500 $ Net income 2017 938.000 409,350 261.000 14,000 85.750 770,100 167,900 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started