Common-Size Income Statement 2016 Revenues $ 29,970 % Cost of goods sold (20,030) Gross profit $ 9,940 % Operating expenses (8,030) Net operating income $ 1,910 % Interest expense (860) Earnings...

Common-Size Income Statement 2016<br>Revenues<br>$ 29,970<br>%<br>Cost of goods sold<br>(20,030)<br>Gross profit<br>$ 9,940<br>%<br>Operating expenses<br>(8,030)<br>Net operating income<br>$ 1,910<br>%<br>Interest expense<br>(860)<br>Earnings before taxes<br>$ 1,050<br>%<br>Income taxes<br>(382)<br>Net income<br>$ 668<br>%<br>Required:<br>1) Prepare Common size income statement<br>

Extracted text: Common-Size Income Statement 2016 Revenues $ 29,970 % Cost of goods sold (20,030) Gross profit $ 9,940 % Operating expenses (8,030) Net operating income $ 1,910 % Interest expense (860) Earnings before taxes $ 1,050 % Income taxes (382) Net income $ 668 % Required: 1) Prepare Common size income statement

Jun 10, 2022

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Common-Size Income Statement 2016 Revenues $ 29,970 % Cost of goods sold (20,030) Gross profit $ 9,940 % Operating expenses (8,030) Net operating income $ 1,910 % Interest expense (860) Earnings...

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