Problem:
Foreign Travel Services has net income of $48,400, total assets of $219,000, total equity of $154,800, and total sales of $311,700.
Required:
Question: What is the common-size percentage for the net income?
- 9.00 percent
- 13.90 percent
- 15.53 percent
- 22.10 percent
- 31.27 percent
Note: Provide support for your underlying principle.