ATC's common-size income statement for 2020 would report cost of goods sold as: a) Up by 5.3% b) 139.5% c) 65.9% d) 30,000 million Aberdeen Technology CorporationConsolidated Statements of Income(in millions, except per share amounts)Net revenueCost of goods soldGross profitOperating expenses:Selling, general, and administrativeResearch, development, and engineeringSpecial chargesTotal operating expensesOperating incomeInvestment and other income (loss), netIncome before income taxesIncome tax expenseNet incomeEarnings per common share:Basic$$$Years Ended December 31,202045,500 $30,00015,5003,1507003,85011,65014011,79080010,990 $0.97 $201936,000 $28,5007,5002,7506003,3504,1502034,3539253,428 $0.88 $201834,00021,50012,5001,8003724822,6549,846(63)9,7834609,3230.52 7/23/23, 8:57 PMAssetsCurrent assets:Aberdeen Technology CorporationConsolidated Statements of Financial Position(in millions)Cash and cash equivalentsShort-term investmentsAccounts receivable, netInventoriesOtherTotal current assetsProperty, plant, and equipment, netInvestmentsOther non-current assetsTotal assetsLiabilities and Shareholders' EquityCurrent liabilities:Accounts payableAccrued and otherTotal current liabilitiesLong-term debtOther non-current liabilitiesCommitments and contingent liabilitiesTotal liabilitiesShareholders' equity:Preferred shares; shares issued: 0Common shares; shares authorized: 24,000;shares issued: 19,971 and 2,685, respectivelyRetained earningsOther comprehensive lossOtherConsolidated balance sheetsTotal shareholders' equityTotal liabilities and shareholders' equity$$$GADecember 31,20204,600 $8353,6003452,00011,3801,3006,60039019,670 $7,700 $3,30011,0005132,20013,7132005,906(99)(50)5,957$ 19,670 $20194,5054302,4003221,4009,0578004,60024014,6975,5002,6008,1005141,50010,1141,6003,083(43)(57)4,58314,697

Common size statement: It implies a financial statement trend analysis technique that reflects the…

Answered: ATC's common-size income statement for…

ATC's common-size income statement for 2020 would report cost of goods sold as: a) Up by 5.3% b) 139.5% c) 65.9% d) 30,000 million

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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