custom auto parts cap started the 2016 accounting period with the balances given in the financial statements model shown below

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b. Prepare a multistep income statement. Include common size percentages on the income statement.
c. CAP’s gross margin percentage in 2015 was 34%. Based on the common size data in the income statement, did CAP raise or lower its prices in 2016?
d. Assuming a 5% rate of growth, what is the amount of net income expected for 2017?

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