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Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow. Common-Size Percents 1 Yr Ago 100.0% Trend Percents 2 Yrs Ago 1 Yr Ago 103.0% 2 Yrs Ago 100.0% Current Yr Current Yr Sales 100.0% 100.0% 104.2% Cost of goods sold Total expenses 111.2 100.8 63.3 61.1 56.6 116.5 100.0 14.3 13.8 14.1 105.7 100.0 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period?

Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow. Common-Size Percents 1 Yr Ago 100.0% Trend Percents 2 Yrs Ago 1 Yr Ago 103.0% 2 Yrs Ago 100.0% Current Yr Current Yr Sales 100.0% 100.0% 104.2% Cost of goods sold Total expenses 111.2 100.8 63.3 61.1 56.6 116.5 100.0 14.3 13.8 14.1 105.7 100.0 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period?

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 40E: Cuneo Companys income statements for the last 3 years are as follows: Refer to the information for...
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Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow. Common-Size Percents 1 Yr Ago 100.0% Trend Percents 2 Yrs Ago 100.0% 2 Yrs Ago 100.0% Current Yr 1 Yr Ago 103.0% Current Yr Sales 100.0% 104.2% 111.2 100.0 Cost of goods sold Total expenses 63.3 61.1 56.6 116.5 14.3 13.8 14.1 105.7 100.8 100.0 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Change in Net Income Net Income Determine the net income for the following years. (Enter all amounts as positive values.) Current Yr 1 Yr Ago 2 Yrs Ago Sales 2$ 100,000 Cost of Goods Sold 56,600 Total Expenses 14,100 Net Income 2$ 29,300 < Prev 1 of 8 Next > ...........
Transcribed Image Text:Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow. Common-Size Percents 1 Yr Ago 100.0% Trend Percents 2 Yrs Ago 100.0% 2 Yrs Ago 100.0% Current Yr 1 Yr Ago 103.0% Current Yr Sales 100.0% 104.2% 111.2 100.0 Cost of goods sold Total expenses 63.3 61.1 56.6 116.5 14.3 13.8 14.1 105.7 100.8 100.0 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Change in Net Income Net Income Determine the net income for the following years. (Enter all amounts as positive values.) Current Yr 1 Yr Ago 2 Yrs Ago Sales 2$ 100,000 Cost of Goods Sold 56,600 Total Expenses 14,100 Net Income 2$ 29,300 < Prev 1 of 8 Next > ...........
Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow. Common-Size Percents Trend Percents Current Yr 1 Yr Ago 2 Yrs Ago 100.0% Current Yr 1 Yr Ago 103.0% 2 Yrs Ago 100.0% Sales 100.0% 100.0% 104.2% Cost of goods sold Total expenses 63.3 61.1 56.6 116.5 105.7 111.2 100.0 14.3 13.8 14.1 100.8 100.0 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Change in Net Income Net Income Did the net income increase, decrease, or remain unchanged in this three-year period? Did the net income increase, decrease, or remain unchanged in this three-year period? < Net Income Change in Net Income Prey 1 of 8 Next >
Transcribed Image Text:Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow. Common-Size Percents Trend Percents Current Yr 1 Yr Ago 2 Yrs Ago 100.0% Current Yr 1 Yr Ago 103.0% 2 Yrs Ago 100.0% Sales 100.0% 100.0% 104.2% Cost of goods sold Total expenses 63.3 61.1 56.6 116.5 105.7 111.2 100.0 14.3 13.8 14.1 100.8 100.0 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Change in Net Income Net Income Did the net income increase, decrease, or remain unchanged in this three-year period? Did the net income increase, decrease, or remain unchanged in this three-year period? < Net Income Change in Net Income Prey 1 of 8 Next >
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