Common-Size Income Statements Consider the following income statement data from the Ross Company: 2013 2012 Sales revenue $529,000 $454,000 Cost of goods sold 336,000 279,000 Selling expenses 109,000 103,000 Administrative expenses 64,000 58,000 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 = 23.596). 2012 ROSS COMPANY Common-Size Income Statements (Percent of Sales Revenue) 2013 Sales Revenue 100 Cost of Goods Solo Gross Profit on Sales Operating Expenses income before Income Takes income Tax Expense Net Income