Prepare the common-size financial statement for the entities below and provide a reasoned explanation of the benefits relative to ratios when used to compare performance and establish trends. Income Statements for year ending 31 December 2022 Net revenue 35,119 Cost of goods sold 12,693 Gross profit 22,426 Selling & administrative expenses 13,158 Other operating expenses 819 8,449 Operating income Interest income Timber Co. Itd $'000 Other income (net of expenses) Profits before tax Income tax expense Profits after taxes 833 14,193 11,809 6,447 2,384 Biscuit Co. Ltd. $'000 30,990 11,088 19,902 11,358 313 8,231 355 8,864 988 2,040 6,824

Prepare the common-size financial statement for the entities below and provide a reasoned explanation of the benefits relative to ratios when used to compare performance and establish trends. Income Statements for year ending 31 December 2022 Net revenue 35,119 Cost of goods sold 12,693 Gross profit 22,426 Selling & administrative expenses 13,158 Other operating expenses 819 8,449 Operating income Interest income Timber Co. Itd $'000 Other income (net of expenses) Profits before tax Income tax expense Profits after taxes 833 14,193 11,809 6,447 2,384 Biscuit Co. Ltd. $'000 30,990 11,088 19,902 11,358 313 8,231 355 8,864 988 2,040 6,824

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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