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Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) Comparative Income Statements For Years Ended December 31, 2017 and 2016 2017 2016 Sales Cost of goods sold Gross profit s 765,000 560,000 205.000 129,200 5 75,800 3640,000 284 400 355 600 224,000 $ 131,600 Net ncome Has the companys situation improved in the most recent year? Yes <Prev 30, 71ll Next > ere to search

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Answer #1
2017 2016
$ % $ %
Sales 765000 100.0 640000 100.00
Cost of goods sold 560000 73.2 284400 44.4
Gross profit 205000 26.8 355600 55.6
Operating expense 129200 16.9 224000 35.0
Net income 75800 9.9 131600 20.6

No, company situation is not improved.

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