a$.$ Prepare common size Income statements for Price Company, a sole proprletorship, for the two years shown as above by

converting the dollar amounts Into percentages. For each year, sales will appear as $100$ percent and other Items will be

expressed as a percentage of sales. $($Income taxes are not Involved as the business is not Incorporated.$)$

b$.$ State whether the changes from year $1$ to year $2$ are favorable or unfavorable.

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Required B

Prepare common size income statements for Price Company, a sole proprietorship, for the two years shown as above by

converting the dollar amounts into percentages. For each year, sales will appear as $100$ percent and other items will be

expressed as a percentage of sales. $($Income taxes are not involved as the business is not incorporated.$)$