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

question 22

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.
$\begin{array}{|l|c|l|}\hline & 20 \mathrm{xx} & \mathbf{2 0 x x} \\\hline & & \\\hline \text { Net sales } & \$ 200,000 & \\\hline \text { Cost of goods sold } & 116,000 & \\\hline \text { Gross margin } & \$ 84,000 & \\\hline \text { Operating expenses } & 46,000 & \\\hline \text { Income before income taxes } & \$ 38,000 & \\\hline \text { Income taxes expense } & 15,200 & \\\hline \text { Net income } & \$ 22,800 & \\\hline & & \\\hline\end{array}$

---

Definitions:

Symptoms Duration

The length of time over which the signs and symptoms of a disease or condition are observed or experienced.

Neutralization

In chemistry, it refers to the reaction between an acid and a base to produce salt and water. In psychology, it's a technique to rationalize or justify behavior that contradicts one's own social norms or values.

OCD PATIENTS

Individuals who suffer from Obsessive-Compulsive Disorder, a mental health condition characterized by uncontrollable, recurring thoughts (obsessions) and behaviors (compulsions) they feel the urge to repeat.

Behavioral Acts

Observable actions or responses of an individual, often studied in psychology to understand human behavior.