The following information is taken from the financial statements of a company for the current year:

Current assets	$414,000
Total assets	909,000
Cost of good sold	669,000
Gross Profit	219,000
Net income	139,000

2.

Required information

On a common size income statement for the year, what is the percentage that would be shown next to the dollar amount of sales revenue?

100%

16%

63%

Cannot be determined

3.

Required information

What is the gross profit percentage for the current year (rounded to the nearest whole percent)?

75%

25%

63%

30%

4.

value: 2.00 points

Required information

On a common size income statement for this year, what is the percentage that would be shown next to the dollar amount of cost of goods sold?

30%

21%

25%

75%