Data for Martin Corp Prepare a Comparative Common-Size Income Statement for Each Company for Sales

question 142

Essay

Data for Martin Corp.and Tante,Inc.follow:
$\begin{array}{lll}&\text {Martin}&\text {Tante}\\\text { Net Sales } & \$ 25,000 & \$ 32,500 \\\text { Cost of Goods Sold } & 18,500 & 22,360 \\\text { Other Expenses } & 2,150 & 5,000 \\\text { Net Income } & \$ 4,350 & \$ 5,140\end{array}$
Prepare a comparative common-size income statement for each company for the year ending December 31,2019.Round to two decimal places.Use a multi-step format for the income statement.

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Definitions:

Hypothetical Syllogism

A logical argument consisting of two conditional statements and a conclusion, based on the assumption that if the premises are true, the conclusion must follow.

Modus Tollens

A logical argument principle that infers the negation of an antecedent from the negation of its consequent in a conditional statement.

Antecedent

An element in grammar that a pronoun or another word refers back to; in logic, the condition in a conditional statement that if true, leads to the consequent.

Standard Form

A structured format for presenting arguments or equations in a universally understood manner.