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19) Prepare a comparative common-size income statement for Nobell Inc. using the 2015 and 2014 data. (Round off the percentages to one decimal place.)

Nobell Inc.

Comparative Income Statement

Years Ended December 31, 2015 and 2014

20152014

Net Sales$ 6,355$ 4,920

Cost of Goods Sold3,3702,200

Gross Profit2,9852,720

Operating Expenses:

Selling Expenses675580

Administrative expenses410425

Total Expenses1,0851,005

Operating Income1,9001,715

Other Revenues and (Expenses):

Interest Revenue00

Interest Expense(400)(695)

Total Other Revenues and (Expenses)(400)(695)

Income Before Taxes1,5001,020

Income Tax Expense230210

Net Income$ 1,270$ 810

20) Data for Martin Corp. and Tante Inc. as follows:

MartinTante

Net Sales$25,000$32,500

Cost of Goods Sold18,50022,360

Other Expenses2,1505,000

Net Income$4,350$5,140

Prepare a comparative common-size income statement for Martin Corp and Tante Inc. for the year ending December 31, 2016. Round off the percentages to two decimal places. Use a multi-step format for the income statement.

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