Common-size and trend percents for Rustynail Company\'s sales, cost of goods sol

Question

Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow Common-Size Percents Trend Percents 2014 2013 2012 2014 2013 2012 Sales Cost of goods 100.0% 100.0% 100.0% 104.3% 103.1% 100.0% 63.2 61.0 57.6 114.4 109.2 100.0 14.3 13.8 14.1 105.8 100.9 100.0 sold Total expenses Determine the net income for the following years. (Enter all amounts as positive values.) 2014 2013 2012 Sales Cost of Goods Sold Total Expenses Net Income $ 100,000 57,600 14,100 $ 28,300 Did the net income increase, decrease, or remain unchanged in this three- year period? Net income decreased Remained unchanged Net income increased

Explanation / Answer

Determine net income following year :

Net income decrease in this three year period.

2014 2013 2012 Sales 104300 103100 100000 Cost of goods sold 65917.60 62891 57600 Total expense 14914.90 14227.80 14100 Net income 23467.50 25981.20 28300

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