The following information was drawn from the records of Toner Sales Company. Net sales Cost...
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The following information was drawn from the records of Toner Sales Company. Net sales Cost of goods sold Operating expenses Loss on the sale of land Year 1 $ 46,000 (13,800) (8,740) 0 Year 2 $ 46,000 (16,100) (12,880) (8,740) Required: a. Prepare a multistep income statement for each year. b. Prepare a common size income statement for each year. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a multistep income statement for each year. TONER SALES COMPANY Multistep Income Statement For the Years Ended December 31, Year 1 and Year 2 Year 1 Year 2 Complete this question by entering your answers in the tabs below. Required A Required B Prepare a common size income statement for each year. (Round your percentage answers to the nearest whole percentage (i.e., .234 should be entered as 23).) TONER SALES COMPANY Common Size Income Statement For the Years Ended December 31, Year 1 and Year 2 Year 1 Year 2 % % % %
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