Refer to the data presented for Mulberry Designs, Inc. in Exercise E15-13.
Theta Designs, Inc. has the following data:

Requirements
1. Prepare a comparative common-size income statement for Mulberry Designs, Inc. using the 2018 and 2017 data. Round percentages to one-tenth percent (three decimal places).
2. To an investor, how does 2018 compare with 2017? Explain your reasoning.

Transcribed Image Text:

THETA DESIGNS, INC. Comparative Balance Sheet December 31, 2018 and 2017 2017 2018 Assets $ 25,000 $ 73,440 Total Current Assets Property, Plant, and Equipment, Net 153,600 168,300 Other Assets 21,400 64,260 $ 200,000 $ 306,000 Total Assets Liabilities $ 27,600 $ 49,266 Total Current Liabilities Long-term Debt 208,998 72,400 Total Liabilities 258,264 100,000 Stockholders' Equity Total Stockholders' Equity 100,000 47,736 Total Liabilities and Stockholders' Equity $ 200,000 $ 306,000