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Prepare a comparative common-size income statement for Clarion, Inc. for 2019 and 2018 data. (Round percentages to one decimal place.) Clarion, Inc. Comparative Income Statement
Prepare a comparative common-size income statement for Clarion, Inc. for 2019 and 2018 data. (Round percentages to one decimal place.) Clarion, Inc. Comparative Income Statement Years Ended December 31, 2019 and 2018 2019 2018 Net Sales $ 6,355 $ 4,920 Cost of Goods Sold 3,370 2,200 Gross Profit 2,985 2,720 Operating Expenses: Selling Expenses 675 580 Administrative Expenses 410 425 Total Operating Expenses 1,085 1,005 Operating Income 1,900 1,715 Other Income and (Expenses): Interest Expense 400) (695) Total Other Income and (Expenses) (400) (695) Income Before Income Taxes 1,500 1,020 Income Tax Expense 230 210 Net Income $ 1,270 $ 810
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