Common-size and trend percents for Rusty nail Company\'s sales, cost of goods so
ID: 2458665 • Letter: C
Question
Common-size and trend percents for Rusty nail Company's sales, cost of goods sold, and expenses follow.
Common-Size Percents
Trend Percents
2014
2013
2012
2014
2013
2012
Sales
100.0
%
100.0
%
100.0
%
103.8
%
102.6
%
100.0
%
Cost of goods sold
63.5
61.3
57.3
115.0
109.8
100.0
Total expenses
14.2
13.7
14.0
105.3
100.4
100.0
Determine the net income for the following years: 2012, 2013 and 2014 (Enter all amounts as positive values.)
Common-size and trend percents for Rusty nail Company's sales, cost of goods sold, and expenses follow.
Explanation / Answer
Rusty's Nail Company Common- Size Percents Trends Percents Years 2014 2013 2012 2014 2013 2012 Sales 100 100 100 103.8 103 100 Cost of Goods sold 63.5 61.3 57.3 115 110 100 Gross Profit 36.5 38.7 42.7 -11.2 -7.2 0 Total Expenses 14.2 13.7 14 105.3 100 100 Net Income 22.3 25 28.7 -116.5 -108 -100 Note: Assume Sales =100
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