Question 1
On a common-size income statement, income taxes are shown as a percentage of
◦ gross profit.
◦ net income.
◦ net sales revenue.
◦ operating income.
Question 2
On a common-size income statement, interest expense is shown as a percentage of
◦ gross profit.
◦ net income.
◦ net sales revenue.
◦ operating income.