Question
Prepare a common-size income statement (component percentages) for the following income statement. Dollar Amount Sales revenue $200,000 Cost of goods sold $80,000 Gross profit $120,000
Prepare a common-size income statement (component percentages) for the following income statement.
| Dollar Amount | |
| Sales revenue | $200,000 |
| Cost of goods sold | $80,000 |
| Gross profit | $120,000 |
| Operating expenses | $101,000 |
| Interest expense | $4,000 |
| Income before income tax | $15,000 |
| Income tax expense (rate 20%) | $3,000 |
| Net income |
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Financial Accounting A Key To Your Success In The Exam
Authors: Victoria Dobrynskaya
2nd Edition
3843389713, 978-3843389716
