Oil Field Services has net income of $120,400,total assets of $1,219,000,total equity of $694,100,and total sales of $1,521,700.What is the common-size percentage for the net income?
A)9.00 percent
B)7.91 percent
C)15.53 percent
D)12.10 percent
E)8.62 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, ($120,400 / $1,521,700) * 100 = 7.91 percent.

Oil Field Services Has Net Income of $120,400,total Assets of $1,219,000,total