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

question 36

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.

$\begin{array}{|lrr|}\hline & { \mathbf { 2 0 x \mathbf { x } } } &\mathbf { 2 0 x \mathbf { x } } \\\\\text { Net sales } & \$ 780,000&\underline{\quad\quad} \\\text { Cost of goods sold } & 452,400 \\\text { Gross margin } & \$ 327,600 &\underline{\quad\quad}\\\text { Operating expenses } & 156,000&\underline{\quad\quad} \\\text { Income before income taxes } & \$ 171,600 \\\text { Income taxes expense } & \underline{124,800}&\underline{\quad\quad} \\\text { Net income } & \$ 46,800&\underline{\quad\quad} \\\hline\end{array}$

Assess the impact of propaganda and public opinion shaping during World War I through committees like the Committee on Public Information.

Understand the role and effects of legislation such as the Espionage Act and the Sedition Act on freedom of speech and dissent in wartime.

Examine the impact of war on civil liberties and the treatment of dissenters and immigrants in American society.

Recognize the contributions and challenges faced by women and minority groups during this period.

---

Definitions:

Enforceable

A term describing a contract or provision that is legally binding and can be upheld in court.

Postbox Rule

A legal principle in contract law stating that an offer is considered accepted at the moment the acceptance is dispatched by the offeree, not when it is received by the offeror.

Revocation

The process of formally withdrawing, cancelling, or annulling a decision, offer, or legal power.

Valid Contract

An agreement between two or more parties that is enforceable by law, meeting essential elements such as offer, acceptance, consideration, and legal purpose.