Selected information for Alastair Company is as follows:

-Refer to Exhibit 14-3. What is the percentage that would be given to sales revenue on a common-size income statement (round to the nearest percent)?

Question

Selected information for Alastair Company is as follows:
 
-Refer to Exhibit 14-3. What is the percentage that would be given to sales revenue on a common-size income statement (round to the nearest percent)?

Quizplus · Accepted Answer

In a common-size income statement, sales revenue is always represented as 100% because all other items are expressed as a percentage of sales revenue.

Selected Information for Alastair Company Is as Follows