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Problem -
Common-size percentages are often used to compare the statements of companies of unequal size. The condensed income statements of Companies A and B are given below. Enter in the spaces provided the amounts expressed in common-size percentages.
Company A and Company B Income Statements for Year Ended December 31, 2007
Dollar Amounts
Common-Size Percentages
Company A
Company B
Sales
$450,000
$525,000
Cost of goods sold
261,000
210,000
Gross margin
$189,000
$315,000
Selling expenses
$81,000
$89,250
Administrative expenses
45,000
52,500
Total operating expenses
$126,000
$141,750
Income
$63,000
$173,250
After expressing the amounts of the income statements in common-size percentages, examine them and name the company that operated more efficiently.
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