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Requirement 1. Prepare a comparative common-size income statement for Mariner Designs, Inc. using the 2024 and 2023 data. Round percentages to one-tenth percent. (Round the percentages to one-tenth percent, X.X. Enter the percentages without the %. For example, enter 1.1% as 1.1.) Net Sales Revenue Expenses: Mariner Designs, Inc. Common-Size Income Statement Years Ended December 31, 2024 and 2023. 2024% Net Income Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses 100.0 % % % % % % 2023 % 100.0 % % % % % %

Requirement 1. Prepare a comparative common-size income statement for Mariner Designs, Inc. using the 2024 and 2023 data. Round percentages to one-tenth percent. (Round the percentages to one-tenth percent, X.X. Enter the percentages without the %. For example, enter 1.1% as 1.1.) Net Sales Revenue Expenses: Mariner Designs, Inc. Common-Size Income Statement Years Ended December 31, 2024 and 2023. 2024% Net Income Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses 100.0 % % % % % % 2023 % 100.0 % % % % % %

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 40E: Cuneo Companys income statements for the last 3 years are as follows: Refer to the information for...
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Requirements 1. Prepare a comparative common-size income statement for Mariner Designs, Inc. using the 2024 and 2023 data. Round percentages to one-tenth percent. 

 

2. To an investor, how does 2024 compare with 2023 ? Explain your reasoning

Data table Mariner Designs, Inc. Comparative Income Statement Net Income Years Ended December 31, 2024 and 2023 2024 Net Sales Revenue Expenses: Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses $ 2023 428,950 $ 371,000 204,000 187,550 100,050 93,000 8,350 6,850 312,400 287,400 116,550 $ 83,600
Transcribed Image Text:Data table Mariner Designs, Inc. Comparative Income Statement Net Income Years Ended December 31, 2024 and 2023 2024 Net Sales Revenue Expenses: Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses $ 2023 428,950 $ 371,000 204,000 187,550 100,050 93,000 8,350 6,850 312,400 287,400 116,550 $ 83,600
Requirement 1. Prepare a comparative common-size income statement for Mariner Designs, Inc. using the 2024 and 2023 data. Round percentages to one-tenth percent. (Round the percentages to one-tenth percent, X.X. Enter the percentages without the %. For example, enter 1.1% as 1.1.) Net Sales Revenue Expenses: Mariner Designs, Inc. Common-Size Income Statement Years Ended December 31, 2024 and 2023 2024 % Net Income Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses 100.0 % % % de de % % % 2023 % 100.0 % % % % % %
Transcribed Image Text:Requirement 1. Prepare a comparative common-size income statement for Mariner Designs, Inc. using the 2024 and 2023 data. Round percentages to one-tenth percent. (Round the percentages to one-tenth percent, X.X. Enter the percentages without the %. For example, enter 1.1% as 1.1.) Net Sales Revenue Expenses: Mariner Designs, Inc. Common-Size Income Statement Years Ended December 31, 2024 and 2023 2024 % Net Income Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses 100.0 % % % de de % % % 2023 % 100.0 % % % % % %
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