International Travel Services has net income of $48,400,total assets of $219,000,total equity of $154,800,and total sales of $411,700.What is the common-size percentage for the net income?
A)9.00 percent
B)11.76 percent
C)15.53 percent
D)22.10 percent
E)850.62 percent

Question

Quizplus · Accepted Answer

Net income common-size percentage = $48,400/$411,700 = 11.76 percent

International Travel Services Has Net Income of $48,400,total Assets of $219,000,total