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Home Q & A Board Other Fields Homework Help Business Accounting
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6 years ago
Use the following data to prepare a common-size comparative income statement for Old Mill Corporation on December 31, 2014. Round percentages to one-tenth percent.
   Old Mill Corporation
   Comparative Income Statement
   For the Years Ended December 31, 2014 and 2013

   2014   2013
Net sales   $1,400,000   $1,200,000
Expenses:
Cost of goods sold   $900,000   $780,000
Selling and general expenses   250,000   220,000
Interest expense   55,000   52,000
Income tax expense   64,000   48,000
Total expenses   $1,269,000   $1,100,000
Net income   $131,000   $100,000
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Exploring Microsoft Office 2013, Volume 2, Canadian Edition

Exploring Microsoft Office 2013, Volume 2, Canadian Edition


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