A. Create a spreadsheet similar to Table 3.1 to model the following: 1. A multiple- step comparative income statement for Dayton, Inc., for the periods ending Dec 31, 2015 and 2014. You must calculate the cost of goods sold for the year 2015.

A common-size income statement for Dayton, Inc covering the years 2015 and 2014.

Dayton, Inc.
Annual Income Statement (Values in Millions)
			Common
			Size
	2015	2014	2015	2014
Sales	178909	187510	=B6/$B$6	=C6/$C$6
Cost of Sales	=B30	111631	=B7/$B$6	=C7/$C$6
Gross Operating Profit	=B6-B7	=C6-C7	=B8/$B$6	=C8/$C$6
Selling, General & Admin. Expense	12356	12900	=B9/$B$6	=C9/$C$6
Other Taxes	33572	33377	=B10/$B$6	=C10/$C$6
EBITDA	=B8-B9-B10	=C8-C9-C10	=B11/$B$6	=C11/$C$6
Depreciation & Amortization	12103	7944	=B12/$B$6	=C12/$C$6
EBIT	=B11-B12	=C11-C12	=B13/$B$6	=C13/$C$6
Other Income, Net	3147	3323	=B14/$B$6	=C14/$C$6
Earnings Before Interest and Taxes	=B13+B14	=C13+C14	=B15/$B$6	=C15/$C$6
Interest Expense	398	293	=B16/$B$6	=C16/$C$6
Earnings Before Taxes	=B15-B16	=C15-C16	=B17/$B$6	=C17/$C$6
Income Taxes	6259	9368			0.35324	tax rate
Net Income Available to Common	=B17-B18	=C17-C18	=B19/$B$6	=C19/$C$6
Dividends per share	1.496	0.91
EPS	1.71	2.25
Computation of 2012 Cost of Sales:
Beginning Inventory	=balancesheet!C10
Purchases	109865
Goods Available	=B27+B28
Cost of Sales	=B29-B31
Ending Inventory	=balancesheet!B10