Common-Size Income Statements Consider the following income statement data from the Ross Company: 2013 2012 Sales revenue $525,000 $450,000 Cost of goods sold 339,000 282,000 Selling expenses 108,000 102,000 Administrative expenses 60,000 54,000 Income tax expense 7,800 5,400 Prepare common-size income statements for each year. Note: Round answers to one decimal place (ex: 0.2345 = 23.5%). ROSS COMPANY Common-Size Income Statements (Percent of Sales Revenue) 2013 2012 Sales Revenue % %6 Cost of Goods Sold 96 96 % %6 %6 Selling Expenses Administrative Expenses Total Income before Income Taxes 96 96 96 96 96 96 . 96 % % Prepare common-size income statements for each year. Note: Round answers to one decimal place (ex: 0.2345 = 23.5%). ROSS COMPANY Common-Size Income Statements (Percent of Sales Revenue) 2013 2012 Sales Revenue % % Cost of Goods Sold % % % % Gross Profit on Sales Operating Expenses % Income Tax Expense Net Income 9M % % Income before Income Taxes % % % % TULOT % % % 06