Preparing common-size income statement Data for Connor, Inc. and Alto Corp.follow Connor Alto Net Sales...
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Preparing common-size income statement Data for Connor, Inc. and Alto Corp.follow Connor Alto Net Sales Revenue Cost of Goods Sold Other Expenses Net Income s13,000 $ 22,000 7,917 15,730 4,342 5,170 S 741 1,100 Requirements 1. Prepare common-size income statements. 2. Which company earns more net income? 3. Which company's net income is a higher percentage of its net sales revenuc? Use the following information for Short Exercises S17-6 through $17-10 Accel's Companies, a home improvement store chain, reported the following summarized figures: ACCEL'S COMPANIES Income Statement Years Ended May 31, 2018 and 2017 2018 $40,600 28,400 2017 40,500 30,600 Net Sales Revenue Cost of Goods Sold Interest Expense All Other Expenses Net Income 570 600 8,200 4,300 S1,130 $ 7,300
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