1.Following are Cranston's common-size income statements and balance sheets for 2013 and 2012. Prepare acommon-size income statement and balance sheet for 2014.

Complete the 2014 common-size income statement below:(Round to two decimal places.)

Income Statements
	2014		2013		2012
Sales		%	100.00	%	100.00	%
Cost of goods sold		%	67.84		67.24
Gross profit		%	32.16	%	32.76	%
Selling, general, and administrative expenses		%	14.92		14.71
Depreciation		%	7.18		7.24
EBIT		%	10.06	%	10.80	%
Interest expense (net of interest income)		%	0.77		0.52
Earnings before taxes		%	9.29	%	10.28	%
Taxes		%	2.79		3.08
Net income		%	6.50	%	7.20	%