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Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow. Common-Size...

Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow.

Common-Size Percents

Trend Percents

2017

2016

2015

2017

2016

2015

Sales

100.0

%

100.0

%

100.0

%

104.3

%

103.1

%

100.0

%

Cost of goods sold

63.5

61.3

58.0

114.2

109.0

100.0

Operating expenses

14.3

13.8

14.1

105.8

100.9

100.0

Determine the net income for the following years.

2017

2016

2015

Sales

$100,000

Cost of Goods Sold

58,000

Operating Expenses

14,100

Net Income

$27,900

Did the net income increase, decrease, or remain unchanged in this three-year period?

  • Remained unchanged
  • Net income increased
  • Net income decreased
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Answer #1

2017 2016 2015 Sales Cost of Goods sold Total Expenses 104300 103100 100000 58000 66236 63220 14100 14918 14227 Net Income 25

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