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The comparative income statement of Sensible Music Co. for the years ended December 31, 2021 and 2020 is as follows: Prepare a comparative common-size income
The comparative income statement of Sensible Music Co. for the years ended December 31, 2021 and 2020 is as follows:
Sensible Music Co. Comparative Income Statements Years Ended December 31, 2021 and 2020 2021 2020 915.000 Total revenue $ 1.075,000 $ Expenses: Cost of goods sold Selling and general expenses $ 475.000 $ 406,250 285,000 262.000 Interest expense 12,500 22,500 104,500 82,150 Income tax expense 887.000 762.900 Total expenses S 188,000 $ 152, 100 Net income 2021 2020 Total revenue % % 7 % % Expenses: Cost of goods sold Selling and general expenses Interest expense % % % % % % Selling and general expenses Interest expense % % Income tax expense % % Total expenses % % % Net income % Prepare a comparative common-size income statement for Sensible Music Co. (Round your answers to one-hundredth of a percent,
XXX%. Do not enter the % symbol in any of the input fields.)
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