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 2 | Year 1 | Year 2 | Year 1 |
| Sales | 100.0% | 100.0% | 117% | 100% |
| Cost of goods sold | 53.7% | 52.2% | 121% | 100% |
| Gross profit | 46.3% | 47.8% | 114% | 100% |
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