Express the following income statement information in common-size percentages and in trend percentages using Year 1 as the base year. ???Common-SizePercentagesTrendPercentages?Year 2Year 1Year 2Year 1Year 2Year 1Sales$540,000$460,000________________Cost of goods sold.  290,000  240,000________________Gross profit$250,000$220,000 ________________???????

What will be an ideal response?



?Common-Size
Percentages
Trend
Percentages
?Year 2Year 1Year 2Year 1
Sales100.0%100.0%117%100%
Cost of goods sold53.7%52.2%121%100%
Gross profit  46.3%  47.8%114%100%

Business

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