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Common-Size Income Statements

Consider the following income statement data from the Ross Company:

20132012Sales revenue$527,000$452,000Cost of goods sold338,000281,000Selling expenses107,000101,000Administrative expenses60,00054,000Income tax expense7,8005,400

Prepare common-size income statements for each year. Round percentages to one decimal point.

ROSS COMPANY

Common-Size Income Statements

(Percent of Sales Revenue)20132012Sales RevenueAnswer

%Answer

%Cost of Goods SoldAnswer

%Answer

%Answer

Gross Profit on Sales

Operating Expenses

Income Tax Expense

Net Income

Answer

%Answer

%Answer

Gross Profit on Sales

Operating Expenses

Income Tax Expense

Net Income

Selling ExpensesAnswer

%Answer

%Administrative ExpensesAnswer

%Answer

%TotalAnswer

%Answer

%Income before Income TaxesAnswer

%Answer

%Answer

Gross Profit on Sales

Operating Expenses

Income Tax Expense

Net Income

Answer

%Answer

%Answer

Gross Profit on Sales

Operating Expenses

Income Tax Expense

Net Income

Answer

%Answer

%