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1 April, 03:20

Oil Field Services has net income of $120,400, total assets of $1,219,000, total equity of $694,100, and total sales of $1,521,700. What is the common-size percentage for the net income?

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  1. 1 April, 03:34
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    7.91%

    Explanation:

    The computation of the common-size percentage for the net income is shown below:

    = (Net income : Total sales) * 100

    = ($120,400 : $1,521,700) * 100

    = 7.91%

    It shows a relationship between net income and total sales. Since we have to compute the common size percentage i. e means it always be in the denominator

    All other information which is given is not relevant. Hence, ignored it
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