Requirement 1. Prepare a comparative common-size income statement for Mariner Designs, Inc. using the 2024 and 2023 data. Round percentages to one-tenth percent. (Round the percentages to one-tenth percent, X.X. Enter the percentages without the %. For example, enter 1.1% as 1.1.) Net Sales Revenue Expenses: Mariner Designs, Inc. Common-Size Income Statement Years Ended December 31, 2024 and 2023. 2024% Net Income Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses 100.0 % % % % % % 2023 % 100.0 % % % % % %
Requirement 1. Prepare a comparative common-size income statement for Mariner Designs, Inc. using the 2024 and 2023 data. Round percentages to one-tenth percent. (Round the percentages to one-tenth percent, X.X. Enter the percentages without the %. For example, enter 1.1% as 1.1.) Net Sales Revenue Expenses: Mariner Designs, Inc. Common-Size Income Statement Years Ended December 31, 2024 and 2023. 2024% Net Income Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses 100.0 % % % % % % 2023 % 100.0 % % % % % %
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
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Chapter15: Financial Statement Analysis
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Problem 40E: Cuneo Companys income statements for the last 3 years are as follows: Refer to the information for...
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Requirements 1. Prepare a comparative common-size income statement for Mariner Designs, Inc. using the 2024 and 2023 data. Round percentages to one-tenth percent.
2. To an investor, how does 2024 compare with 2023 ? Explain your reasoning
![Data table
Mariner Designs, Inc.
Comparative Income Statement
Net Income
Years Ended December 31, 2024 and 2023
2024
Net Sales Revenue
Expenses:
Cost of Goods Sold
Selling and Administrative Expenses
Other Expenses
Total Expenses
$
2023
428,950 $ 371,000
204,000
187,550
100,050
93,000
8,350
6,850
312,400 287,400
116,550 $ 83,600](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5cda43ac-9874-4c11-a744-695eceeedbee%2Fe129c14e-b399-4df8-9407-a0bb6f361ae2%2F2jvu7bn_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Data table
Mariner Designs, Inc.
Comparative Income Statement
Net Income
Years Ended December 31, 2024 and 2023
2024
Net Sales Revenue
Expenses:
Cost of Goods Sold
Selling and Administrative Expenses
Other Expenses
Total Expenses
$
2023
428,950 $ 371,000
204,000
187,550
100,050
93,000
8,350
6,850
312,400 287,400
116,550 $ 83,600
![Requirement 1. Prepare a comparative common-size income statement for Mariner
Designs, Inc. using the 2024 and 2023 data. Round percentages to one-tenth percent.
(Round the percentages to one-tenth percent, X.X. Enter the percentages without the
%. For example, enter 1.1% as 1.1.)
Net Sales Revenue
Expenses:
Mariner Designs, Inc.
Common-Size Income Statement
Years Ended December 31, 2024 and 2023
2024 %
Net Income
Cost of Goods Sold
Selling and Administrative Expenses
Other Expenses
Total Expenses
100.0
%
%
%
de de
%
%
%
2023 %
100.0
%
%
%
%
%
%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5cda43ac-9874-4c11-a744-695eceeedbee%2Fe129c14e-b399-4df8-9407-a0bb6f361ae2%2Fjd8tppp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Requirement 1. Prepare a comparative common-size income statement for Mariner
Designs, Inc. using the 2024 and 2023 data. Round percentages to one-tenth percent.
(Round the percentages to one-tenth percent, X.X. Enter the percentages without the
%. For example, enter 1.1% as 1.1.)
Net Sales Revenue
Expenses:
Mariner Designs, Inc.
Common-Size Income Statement
Years Ended December 31, 2024 and 2023
2024 %
Net Income
Cost of Goods Sold
Selling and Administrative Expenses
Other Expenses
Total Expenses
100.0
%
%
%
de de
%
%
%
2023 %
100.0
%
%
%
%
%
%
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