Identifying industries using common-size balance sheet percentages. Exhibit 2.18 presents common-size balance sheets for five firms. The firms and a description of their activities follow:

(1) Commonwealth Edison: Generates and sells electricity to businesses and households.

(2) Hewlett-Packard: Develops, assembles, and sells computer hardware and printers. The firm outsources many of its computer and printer components.

(3) Household International: Lends money to consumers for periods ranging from several months to several years.

(4) May Department Stores: Operates department store chains and offers its own credit card.

(5) Newmont Mining: Mines for gold and other minerals, utilizing heavy equipment.