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A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: Members of...

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Accounting

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A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: Members of the company's board of directors are surprised to see that net income increased by only $122,800 when sales increased by $1,756,800. Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3).)

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