Common-size and trend percentages for a company's net sales, cost of goods sold, and expenses follow Common-Size Percentages Trend Percentages 2023 100.0% 2022 106.5% 112.0 $7.9 24.1 Net sales Cost of goods sold Expenses 2021 2022 2023 2022 100.0% 54.8 21.9 Required: a. Calculate the profit percentage for 2021 2022 and 2023 (Round the final answers to 2 decimal places.) Profit Percentage Profit 2021 2021 100.0% $1.6 100.0% 100.0 22.4 111.9 104.8 100.0 2023 108.1% 115.9 b. Determine whether the company's profit increased, decreased, or remained unchanged during the xee year period
Common-size and trend percentages for a company's net sales, cost of goods sold, and expenses follow Common-Size Percentages Trend Percentages 2023 100.0% 2022 106.5% 112.0 $7.9 24.1 Net sales Cost of goods sold Expenses 2021 2022 2023 2022 100.0% 54.8 21.9 Required: a. Calculate the profit percentage for 2021 2022 and 2023 (Round the final answers to 2 decimal places.) Profit Percentage Profit 2021 2021 100.0% $1.6 100.0% 100.0 22.4 111.9 104.8 100.0 2023 108.1% 115.9 b. Determine whether the company's profit increased, decreased, or remained unchanged during the xee year period
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Common-size and trend percentages for a company's net sales, cost of goods sold, and expenses follow
Common-Size Percentages
2023
Trend Percentages
2022
100.0%
57.9
24.1
Net sales
Cost of goods sold
Expenses
2021
2022
2023
2022
2021
100.0% 100.0%
51.6
54.8
21.9
22.4
2023
108.1X
2021
106.5% 100.0%
115.9 112.0 100.0
111.9 104.8 100.0
Required:
a. Calculate the profit percentage for 2021 2022 and 2023 (Round the final answers to 2 decimal places.)
Profit Percentage
Profit
b. Determine whether the company's profit increased, decreased, or remained unchanged during the
ee-year period
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