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Prepare common-size income statements by using net sales as the base. (Note: Enter all amounts as positive numbers, except for a net loss. Enter net
Prepare common-size income statements by using net sales as the base. (Note: Enter all amounts as positive numbers, except for a net loss. Enter net loss as a negative number, if applicable. Round answers to the nearest whole percentage. Percentages may not calculate down.) Scherer Company Common-Size Income Statements Years of Operation Line Item Description Year 1 Dollars Year 1 Percentage Year 2 Dollars Year 2 Percentage Year 3 Dollars Year 3 Percentage Net sales $1,030,000 Net sales % 1,133,000 Net sales % $1,339,000 Net sales % Less: Cost of goods sold 293,000 Less: Cost of goods sold 318,000 Less: Cost of goods sold 364,000 Less: Cost of goods sold Gross margin $737,000 Gross margin $815,000 Gross margin $975,000 Gross margin Less: Operating ex
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