h Exercise 13-5 (Algo) Determining income effects from common-size and trend percents LO P1, P2Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow.Common-Size PercentsTrend PercentsSalesCost of goods soldOperating expensesCurrentYear100.0%63.514.4Change in NetIncome1 Year 2 Years CurrentYear104.8%Ago100.0%61.313.9SalesCost of Goods SoldOperating ExpensesNet IncomeAgo100.0%57.814.2Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-yearperiod?Complete this question by entering your answers in the tabs below.115.1106.4 101.4Net IncomeDetermine the net income for the following years. Assuming sales were $100,000 2 yrs ago, what is net income in each year?Note: Enter all amounts as positive values.Current Year 1 Year Ago 2 Years Ago105,000 $ 103,800 $100,000

Common-size financial statements are financial statements that show each line item as a percentage…

Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Common-Size Percents Trend Percents 1 Year Ago 103.6% 109.9 101.4 Sales Cost of goods sold Operating expenses Current Year 100.0% 63.5 14.4 1 Year 2 Years Ago Ago 100.0% 100.0% 61.3 57.8 13.9 14.2 Current Year 104.8% 115.1 106.4 2 Years Ago 100.0% 100.0 100.0 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period?

Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Common-Size Percents Trend Percents 1 Year Ago 103.6% 109.9 101.4 Sales Cost of goods sold Operating expenses Current Year 100.0% 63.5 14.4 1 Year 2 Years Ago Ago 100.0% 100.0% 61.3 57.8 13.9 14.2 Current Year 104.8% 115.1 106.4 2 Years Ago 100.0% 100.0 100.0 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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