Data for Martin Corp and Tortoize Inc Prepare a Comparative Common-Size Income Statement for Martin Corp and

question 41

Essay

Data for Martin Corp and Tortoize Inc. as follows:
$$\begin{array} { | l | r | r | } \hline & \text { Martin } & \text { Tortoize } \\\hline \text { Net Sales } & \$ 25,000 & \$ 32,500 \\\hline \text { Cost of Goods Sold } & 18,500 & 22,360 \\\hline \text { Other Expenses } & 2,150 & 5,000 \\\hline \text { Net Income } & \$ 4,350 & \$ 5,140 \\\hline\end{array}$$ Prepare a comparative common-size income statement for Martin Corp and Tortoize Inc. for the year ending December 31, 2016. Round off the percentages to two decimal places. Use a multiple step format for the income statement.

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Definitions:

Environmental Force

External factors such as social, economic, technological, competitive, and regulatory conditions that affect an organization's operations and decisions.

Exchange

The act of giving one thing and receiving another in return, especially in context to goods, services, or money.

Environmental Force

External factors such as climate, natural resources, and ecological conditions that can affect an organization's operations and strategies.

Technological

Pertaining to technology, involving or employing technology in a product, service, or method of operation.