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

Question

Quizplus · Accepted Answer

In a common-size income statement, the 100 percent amount is typically based on net revenues. This allows for the analysis of each line item as a percentage of net sales, facilitating comparison across periods and with other companies.

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