Saki Kale Farms has net income of $96,320, total assets of $975,200, total equity of $555,280, and total sales of $1,141,275.What is the common-size percentage for the net income?
A)7.90 percent
B)8.44 percent
C)13.88 percent
D)48.65 percent
E)74.57 percent

Question

Quizplus · Accepted Answer

The common-size percentage for net income is calculated by dividing the net income by total sales and then multiplying by 100. So, ($96,320 / $1,141,275) * 100 = 8.44 percent.

Saki Kale Farms Has Net Income of $96,320, Total Assets