Express the following comparative income statements in common-size percents. Using the commonsize percentages, which item is most responsible for the decline in net income?

What is the definition of gross income? “Gross income includes all income unless….”

Which of the following is a solvency ratio?   a. Times interest earned. b. Inventory turnover ratio. c. Profit margin. d. Price-earnings ratio.

Define Gross profit ratio.

Which of the following would not be used as a summary performance measure when using market multiples to determine value?     Stock price     Net operating assets     Net operating profit after tax     Book value

How do you find the gross profit as a percent of sales and income from operations as a percent of sales?

List and discuss four major indirect methods of determining unreported income.

Vertical analysis reports the amount of each item in a statement as a percentage of a designated total.  True or false?

How to convert and income statement's information to express the income statement in common-size percents and assess whether the comany's situation is favorable or unfavorable

Identify and calculate the common ratios used to assess profitability.