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Use the following selected information from Tulip, Co. Year 2 Year 1 Net sales $ 276,200 $ 231,400 Cost of goods sold 151,910 129,584 Operating
- Use the following selected information from Tulip, Co.
| Year 2 | Year 1 |
Net sales | $ 276,200 | $ 231,400 |
Cost of goods sold | 151,910 | 129,584 |
Operating expenses | 55,240 | 53,240 |
Net earnings | 27,820 | 19,820 |
- Determine the Year 1 and Year 2 common size percentages for each component of the income statements. (SHOW WORK)
- Prepare a circle graph to display the results of your calculations for Year 2.
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