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The comparative income statement of Fashion Music Co. for the years ended December? 31, 2014 and 2013 is as? follows: Prepare a comparative? common-size income
The comparative income statement of Fashion Music Co. for the years ended December? 31, 2014 and 2013 is as? follows:
Prepare a comparative? common-size income statement for Fashion Music? Co., rounding to four decimal places. ?(Round your answers to? one-hundredth of a? percent, X.XX%.)
Fashion Music Co Comparative Income Statements Years Ended December 31, 2014 and 2013 2014 2013 Total revenue 1,080,000 919,000 Expenses Cost of goods sold 479,000 400,450 Selling and general expenses 289,000 269,000 24,500 14,500 Interest expense 106,500 86,850 Income tax expense 899,000 770,800 Total expenses 181,000 148,200 Net incomeStep by Step Solution
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