The income statements for the Alpha Company and the Omega Company for the current year appear below:
$$\begin{array} { l r r }
& { \text { Alpha Company } } & \text { Omega Company } \
\text { Net sales } & \$ 1,050,000 & \$ 260,000 \
\text { Cost af goods sold } & 475,000 & 107,500 \
\text { Operating expenge } & 367,500 & 73,000
\end{array}$$ Required:Prepare common size income statements for the Alpha Company and the Omega Company.

Question

The income statements for the Alpha Company and the Omega Company for the current year appear below:
 $$\begin{array} { l r r } 
&  { \text { Alpha Company } } & \text { Omega Company } \
\text { Net sales } & \$ 1,050,000 & \$ 260,000 \
\text { Cost af goods sold } & 475,000 & 107,500 \
\text { Operating expenge } & 367,500 & 73,000
\end{array}$$ Required:Prepare common size income statements for the Alpha Company and the Omega Company.

Quizplus · Accepted Answer

The Answer of The income statements for the Alpha Company and the Omega Company for the current year appear below:
 $$\begin{array} { l r r } 
&  { \text { Alpha Company } } & \text { Omega Company } \
\text { Net sales } & \$ 1,050,000 & \$ 260,000 \
\text { Cost af goods sold } & 475,000 & 107,500 \
\text { Operating expenge } & 367,500 & 73,000
\end{array}$$ Required:Prepare common size income statements for the Alpha Company and the Omega Company.

The Income Statements for the Alpha Company and the Omega