1. Oil Field Services has net income of $120,400, total assets of $1,219,000, total equity of $694,100, and total sales of $1,521,700. What is the common-size percentage for the net income? 9.00 percent 7.91 percent 15.53 percent 12.10 percent 8.62 percent

2. A firm has inventory of $46,500, accounts payable of $17,400, cash of $1,250, net fixed assets of $318,650, long-term debt of $109,500, and accounts receivable of $16,600. What is the common-size percentage of the equity?

70.60 percent

70.12 percent

66.87 percent

42.08 percent

68.75 percent