Oakley Corporation Has the Following Comparative Income Statements

question 57

Multiple Choice

Oakley Corporation has the following comparative income statements.Which of the following statements is false with regard to this comparative data?

• A)The common-size sales percent for 2014 equals 100%.
• B)The common-size net income percent for 2013 equals 28.2%.
• C)The common-size gross profit percent for 2014 equals (3.87)%.
• D)The common-size cost of goods sold for 2013 equals 52.4%.
• E)The common-size operating expenses for 2014 equals 21%.

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Definitions:

Epigenetic

Refers to the study of changes in organisms caused by modification of gene expression rather than alteration of the genetic code itself.

Biological Parents

The individuals from whom a person inherits their genetic traits, typically referred to as the mother and father.

Adoptive Parents

are individuals who become the legal parents of a child through the process of adoption.

Outgoingness

A personality trait characterizing individuals who are friendly, sociable, and willing to engage in social interactions.