Izzy Corporation reported the following in its financial statements (in millions): (in millions) Dec. 31, Year...
Izzy Corporation reported the following in its financial statements (in millions):
| (in millions) | Dec. 31, Year 2 | Dec. 31, Year 1 |
|---|---|---|
| Total assets | $101,994 | $91,313 |
| Revenues | 53,448 | 49,820 |
| Research and development expense | 12,740 | 12,128 |
| Net income | 9,284 | 10,278 |
What is the common-size amount for Izzy Corporation’s research
and development expense for Year 2?
Select one:
a. None of the above
b. 23.8%
c. 12.5%
d. 19.2%
e. 72.9%
Homework Answers
Common size percentages are calculated by dividing the line item with the base figure. Generally it would be sales revenue for income statement, total assets for balance sheet.
Common Size amount for research and development cost for year 2
= 12,740/53,448
= 23.8%
Add Answer to:
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