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

question 89

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.
$\begin{array}{lcc}&\mathbf {20xx}&\mathbf {20xx}\\ \text { Net sales } & \$ 780,000&\underline{\quad\quad} \\ \text { Cost of goods sold } & \underline{452,400}&\underline{\quad\quad} \\ \text { Gross margin } & \$ 327,600&\underline{\quad\quad} \\ \text { Operating expenses } & \underline{156,000}&\underline{\quad\quad} \\\text { Income before income taxes }&\$171,600 &\underline{\quad\quad}\\\text { Income taxes expense }& \underline{124,800}&\underline{\quad\quad}\\ \text { Net income } & \underline{\$ 46,800}&\underline{\quad\quad} \\\end{array}$

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Definitions:

Uncertain Position

A situation or status that is not clearly defined or decided, leading to ambiguity or confusion.

Emotional Expressions

The observable verbal and nonverbal behaviors that communicate an individual's emotional state or feelings to others.

Representational Gap

A discrepancy or disconnect between the way something is depicted or conceptualized and its real-world counterpart.

Enticing

The act of attracting or tempting someone or something with the promise of benefit or reward.