Why is this wrong and how do I get the correct answer? Common-size and...
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Why is this wrong and how do I get the correct answer?
Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Common-Size Percents Current 1 Year 2 Years Year Ago 100.0% 100.0% 100.0% 63.4 61.2 56.8 14.2 13.7 14.0 Ago Sales Cost of goods sold Operating expenses Trend Percents Current 1 Year 2 Years Year Ago Ago 103.9% 102.7% 100.0% 116.0 110.7 100.0 105.4 100.5 100.0 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year Change in Net Income Net Income Determine the net income for the following years. Assuming sales were $100,000 2 yrs ago, what is net income in each year? (Enter all amounts as positive values.) Sales Cost of Goods Sold Operating Expenses Net Income Current Year 1 Year Ago 2 Years Ago $ 100 $ 100 $ 100,000 3,601,120 3,476,160 56,800 198,800 x 191,800 x 14,000 $ (3,799,820) $ (3,667,860) $ 29,200
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Why is this wrong and how do I get the correct answer?