To convert an income statement into a common-size income statement,we restate all the numbers as percentages of ________.
A)total revenues
B)cost of goods sold
C)net income
D)total assets

Question

Quizplus · Accepted Answer

To convert an income statement into a common-size income statement, we need to restate all the numbers as percentages of total revenues. This allows for easier comparison across different time periods and companies.

To Convert an Income Statement into a Common-Size Income Statement,we