Unit 2 Test - Chapters 4-5 Saved 1 The following information was drawn from the records of Toner Sales Company: Mc Graw Hill Net sales Cost of goods sold Operating expenses Loss on the sale of land Required: Year 1 Year 2 $ 40,000 (16,000) $ 40,000 (16,800) (8,000) 0 (10,000) (6,000) a. Prepare a multistep income statement for each year. TONER SALES COMPANY Multistep Income Statement For the Years Ended December 31, Year 1 and Year 2 Year 1 Year 2 b. Prepare a common size income statement for each year. TONER SALES COMPANY Common Size Income Statement For the Years Ended December 31, Year 1 and Year 2 Year 1 % Year 2 % < Prev 1 of 3 Next > Help Save & Exit Submit Unit 2 Test - Chapters 4-5 Mc 1 TONER SALES COMPANY Multistep Income Statement For the Years Ended December 31, Year 1 and Year 2 Year 1 Year 2 b. Prepare a common size income statement for each year. TONER SALES COMPANY Common Size Income Statement For the Years Ended December 31, Year 1 and Year 2 Year 1 % Saved Help Save & Exit Submit Year 2 % % % Graw Hill < Prev 1 of 3 Next > 1