Exercise 13-4 Determination of income effects from common-size and trend percents L.O. P1, P2

Exercise 13-4 Determination of income effects from common-size and trend percents L.O. P1, P2
Common-size and trend percents for Aziz Company’s sales, cost of goods sold, and expenses follow.
Common-Size Percents Trend Percents

2012 2011 2010 2012 2011 2010
Sales 100.0 % 100.0 % 100.0 % 103.7 % 102.5 % 100.0 %
Cost of goods sold 61.9 60.5 57.7 101.2 107.3 100.0
Total expenses 14.2 13.7 14.0 105.2 100.3 100.0
Determine net income as a percent of sales for the following years. (Round your intermediate calculations to 1 decimal place and final answers to 2 decimal places. Omit the “%” sign in your response.)
Years Net income
2010 % ?
2011 % ?
2012 % ?