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1) When preparing a common size balance sheet, each item is presented as a percentage of
| | a. | net sales |
| | b. | total assets |
| | c. | total equity |
| | d. | net income |
2) net sales - C/G/S) / net sales equals
| | a. | net profit margin |
| | b. | gross income |
| | c. | net income |
| | d. | gross profit margin |
3) How is net profit margin calculated?
| | a. | net income / net sales |
| | b. | gross profit / net sales |
| | c. | net income / gross sales |
| | d. | gross profit / gross sales |
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