Express the Following Income Statement Information in Common-Size Percents (Round

question 2

Essay

Express the following income statement information in common-size percents (round to nearest whole percent). Comment on the results.
THORSTEN CORP.
Comparative Income Statement
For Years Ended December 31,2014 and 2013
$\begin{array}{|l|r|r|}\hline &{2014} & {2013} \\\hline \text { Sales } & \$ 1,200,000 & \$ 1,000,000 \\\hline \text { Cost of goods sold } & \underline{804,000} & \underline{650,000} \\\hline \text { Gross profit } & \$ 396,000 & \$ 350,000 \\\hline \text { Selling expenses } & 132,000 & 120,000 \\\hline \text { Administrative expenses } & 180,000 & 150,000 \\\hline \text { Net income } & \$ 84,000 & \$ 80,000 \\\hline\end{array}$

---

Definitions:

Antidepressant

A medication or other intervention that is used to prevent or treat depression by altering brain chemistry, often by increasing levels of serotonin and other neurotransmitters.

Antipsychotic Drugs

Medications used to manage psychosis, including delusions, hallucinations, paranoia, or disordered thought, primarily in conditions like schizophrenia.

Synapses

Points of connection where neurons communicate with each other through chemical and electrical signals.

Hippocampus

A region of the brain associated with memory formation, spatial navigation, and the regulation of emotional responses.