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Prepare a comparative common-size income statement for Delight Corporation. To an investor, how does 2017 compare with 2016? Explain your reasoning. (Click the icon to
Prepare a comparative common-size income statement for Delight Corporation. To an investor, how does 2017 compare with 2016? Explain your reasoning. (Click the icon to view the comparative income statement.) Start by calculating the percentages. (Round the percentages to two decimal places, X.XX.) i Data Table Delight Corporation Comparative Common-Size Income Statement For the Years Ended December 31, 2017 and 2016 2017 2016 Sales revenues 100.00 % 100.00 % Less: Cost of goods sold Gross profit Less: Operating expenses Operating income Less: Interest expense Income before income taxes Delight Corporation Income Statement For the Years Ended December 31, 2017 and 2016 (amounts in thousands) 2017 2016 Sales revenues $ 507,990 $ 442,500 Less: Cost of goods sold 234,900 217,500 Gross profit 273,090 $ 225,000 Less: Operating expenses 127,010 120,010 Operating income $ 146,080 $ 104,990 Less: Interest expense 15,240 13,010 Income before income taxes $ 130,840 $ 91,980 19,205 Less: Income tax expense 11,995 $ 111,635 $ 79,985 Net income Less: Income tax expense Net income Print Print Done]
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