1. Selected items in the statement of comprehensive income of Louisa Trading are as follows:

Sales 3,675,000

Sales discounts and allowances 175,000

Office supplies 52,500

Advertising expense 71,000

Utilities expense 177,500

Interest expense 35,000

The gross profit of the company is 40 percent of net sales and the applicable tax rate for the period is 30 percent. In the common-size statement of comprehensive income, sales discounts and allowances will have a proportional percentage of

1. 4.76% B. 5.00% C. 4.55% D. 95.23%

2. Using the same data in no. 7, office supplies will appear in the common-size statement 0f comprehensive income as

1. 1.43% B. 1.46% C. 1.50% D. 2.5%

3. Using the same data, the proportional percentage of interest expense in the statement of comprehensive income will be

1. 1.00% B. 0.95% C. 0.91% D. 1.15%

4. Using the same data, the business expects to allocate 8 percent proportional component for salaries and wages in the common-size statement of comprehensive income, the absolute amount for salaries and wages will be

1. P176,400 B. P280,000 C. P294,000 D. P308,000

5. Cyrell Merchandising provided the following comparative information:

2020 2019 2018 2017

Trade and other receivables P400,000 P520,000 P420,000 P550,000

Inventory 620,000 680,000 640,000 600,000

Trade and other payables 590,000 520,000 500,000 530,000

In the trend percentage statement of financial position, what would be the index of the year 2018 trade and other receivables using 2017 as base?

1. 5% B. 24% C. 76% D. 105%