The comparative income statement of Outdoor Music Co. for the years ended December 31, 2018...
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The comparative income statement of Outdoor Music Co. for the years ended December 31, 2018 and 2017 is as follows: (Click the icon to view the comparative income statement.) Requirement 1. Prepare a comparative common-size income statement for Outdoor Music Co. (Round your answers to one-hundredth of a percent, X.XX%.) Outdoor Music Co. Comparative Common-Size Income Statements Years Ended December 31, 2018 and 2017 2018 2017 % % Total revenue Expenses: Cost of goods sold Selling and general expenses Interest expense % % % % % % Income tax expense % % Total expenses % % Net income % % ci Data Table Outdoor Music Co. Comparative Income Statements Years Ended December 31, 2018 and 2017 2018 2017 $ Total revenue 844,000 $ 934,000 Expenses: Cost of goods sold Selling and general expenses $ 404,000 $ 400,000 234,000 265,000 Interest expense 9,300 84,000 12,000 86,000 Income tax expense Total expenses 731,300 763,000 $ 112,700 $ 171,000 Net income
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