In a common-size income statement for a retail store,the 100 percent amount is for
A) cost of goods sold.
B) net revenues.
C) gross profit.
D) net income.

Question

Quizplus · Accepted Answer

In a common-size income statement, the 100 percent amount typically represents the net revenues. This is because the statement expresses each line item as a percentage of the net revenue, allowing for easier comparison between different periods or companies. Therefore, the other options (A, C, and D) cannot be the correct answer as they represent different items on the income statement.

In a Common-Size Income Statement for a Retail Store,the 100