<\/div><\/div><\/div> The following financial statement is taken from the records of Jade Inc. Prepare a common-size income statement for 2020 and state all the income statement items as a percentage of net sales. Do not enter dollar signs or commas in the input boxes. Round your answers to 2 decimal places. Jade Inc. Income Statement For the Year Ended March 31 2020 Percentage Sales $314,600 19% Cost of Goods Sold $151,008 % Gross Profit $163,592 % Operating Expenses: Advertising $3,500 1% Depreciation $1,920 % Rent Expense $3,500 1% Salaries and Wages $48,500 1% Utilities $8,800 % Total Operating Expenses $66,220 Other Expenses Interest $2,750 Operating Profit before tax $63,470 % Income Tax $19,041 % Net Income $44,429",
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"title": "Managerial Accounting Tools for Business Decision Making",
"isbn": "978-1118334331, 1118334337, 978-1119036449, 1119036445, 978-1119036432",
"edition": "7th edition",
"authors": "Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso",
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"uri": "\/textbooks\/managerial-accounting-tools-for-business-decision-making-7th-edition-1003",
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"isbn": "1456492187",
"uri": "\/textbooks\/windshield-repair-business-start-up-guide-1st-edition-978-1456492182-274604",
"name": "Windshield Repair Business Start Up Guide",
"edition": "1st Edition"
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"question_posted": "2024-06-28 05:54:00",
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"name": "The following financial statement is taken from the records of Jade Inc.",
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