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E3.3 Complete a common-size vertical analysis of the following condensed income statement. For businesses...

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Accounting

E3.3 Complete a common-size vertical analysis of the following condensed income statement.

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For businesses in this same industry, assume that the normal operating income is 10%. If you owned this business would you be satisfied with the results?

Condensed Income Statement Sales revenue Cost of sales Gross margin Operating expenses Operating income $482,000 202,440) $279,560 ( 207,400) $ 72,160

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