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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 336,000 279,000

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 336,000 279,000
Selling expenses 107,000 101,000
Administrative expenses 62,000 56,000
Income tax expense 9,800 7,400

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 Answer Answer
Cost of Goods Sold Answer Answer
Gross Profit on Sales Answer Answer
Operating Expenses
Selling Expenses Answer Answer
Administrative Expenses Answer Answer
Total Answer Answer
Income before Income Taxes Answer Answer
Income Tax Expense Answer Answer
Net Income Answer Answer

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