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From the Following,complete the Common-Size Income Statement for Isaiah's Sporting

Question 70

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From the following,complete the common-size income statement for Isaiah's Sporting Goods using net sales as the base.(Round to nearest tenth of a percent.)
 Amount  Percent  Net 5ales $750,000−−−− Cost of Goods sold 650,000−−−− Grom Profit on sales 100,000−−−− Operating Expenses 60,000−−−− Net Income 40,000−−−−\begin{array} { l l l } & \text { Amount } & \text { Percent } \\\text { Net 5ales } & \$ 750,000 & ---- \\ \text { Cost of Goods sold }& 650,000 & ---- \\\text { Grom Profit on sales }& 100,000 & ---- \\\text { Operating Expenses } & 60,000 & ---- \\\text { Net Income }&40,000&----\end{array}

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