1)Net income was $598,600 in the current year and $373,000 in the prior year The year-to-year percen
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1)Net income was $598,600 in the current year and $373,000 in the prior year The year-to-year percentage change in net income is closest to:
30%
62%
38%
60%
2) The following information is taken from the financial statements of a company for the current year:
Current assets$400,000 Total assets895,000 Cost of good sold655,000 Gross Profit205,000 Net income125,000 2
value:
On a common size income statement for the year, what is the percentage that would be shown next to the dollar amount of sales revenue?
3) A company’s comparative balance sheet show total assets of $990,000 and $900,000, for the current and prior years, respectively The percentage change to be reported in the horizontal analysis is an increase of:
10%
9%
5%
4%
4) What is the gross profit percentage for the current year (rounded to the nearest whole percent)?
76%
61%
31%
24%
5) On a common size income statement for this year, what is the percentage that would be shown next to the dollar amount of cost of goods sold?
31%
24%
76%
19%