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Question
Express the following income statement information in common-size percents and in trend percents using 2013 as the base year.
| Common-Size Percents | Trend Percents | |||||
| 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | |
| Sales | $460,000 | $540,000 | ||||
| Cost of goods sold | 240,000 | 290,000 | ||||
| Gross profit | $220,000 | $250,000 | ||||
Answer
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