express the following comparative income statements in common size percents and asse 648272
Express the following comparative income statements in common size percents and assess whether or not this company’s situation has improved in the most recent year.
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GERALDO CORPORATION Comparative Income Statements For Years Ended December 31,2011 and 2010 |
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Sales |
$720,000 |
$535,000 |
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Cost of goods sold |
475,200 |
280,340 |
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Gross profit |
244,800 |
254,660 |
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Operating expenses |
151,200 |
103,790 |
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Net income |
$ 93,600 |
$150,870 |