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Exercise 14-1(Algo) Common-Size Income Statement [LO14-1] A comparative income statement is given below for...

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Accounting

Exercise 14-1(Algo) Common-Size Income Statement [LO14-1]
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 $153,000 when sales increased by $1,776,000.
Required:
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).)
\table[[,This Year,,Last Year,],[Sales,,%,,%
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