Using the Income Statement Below,develop a Common-Size Statement by Filling

question 126

Essay

Using the income statement below,develop a common-size statement by filling in the blanks provided.Show your work.Round to one decimal place.
$\begin{array}{lr}&20xx&20xx\\\text { Net sales } & \$ 200,000&\_\_\_ \\\text { Cost of goods sold } & 116,000&\_\_\_ \\\text { Gross margin } & \$ 84,000 &\_\_\_ \\\text { Operating expenses } & 46,000&\_\_\_ \\\text { Income before income taxes } & \$ 38,000&\_\_\_ \\\text { Income taxes expense } & 15,200&\_\_\_ \\\text { Net income }&\$22,800&\_\_\_ \\\end{array}$

---

Definitions:

Positive Accomplishments

Achievements or successes that have a beneficial impact on an individual's life or the lives of others.

Erikson's Theory

A developmental theory by Erik Erikson that outlines eight stages of psychosocial development from infancy to late adulthood, each characterized by a specific conflict.

Neurological Maturity

The state at which the nervous system has developed to the point where it can support all expected sensory, motor, and cognitive functions appropriate for the age.

Initiative

The ability to assess and initiate things independently, often leading to the undertaking of new projects or steps without others' direction.