Montana Company Reported the Following Operating Results for Year 1

question 152

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Montana Company reported the following operating results for Year 1 and Year 2:
Required:
Express each income statement component for each year as a percentage of sales. Round your answer to one decimal place (i.e., 22.5%).

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Definitions:

Service Revenues

Income earned from providing services as opposed to selling physical goods.

Dividends

Payments made by a corporation to its shareholder members, distributing earnings.

Common Shares

Shares in a company that signify ownership, allowing those who hold them to participate in voting and receive a part of the profits.

Financial Position

A snapshot of the resources, obligations, and ownership equity of an entity at a specific point in time.