Complete the common-size for 2018 and 2017 for both the balance sheets and income statements(orange shaded areas) Round each answer to one decimal place (i.e. 46.3%)

Wrap Text General Auto- Merge & Center $ %, 8 Fill Insert Delete Format Conditional Format as Cell Formatting Table Styles Styles Clear ment Number Cells K M N Requirements: Complete the common-size for 2018 and 2017 for both the balance sheets and income statements (orange shaded areas). Round each answer to one decimal place (i.e. 46.3%) Rocky Road Bicycles, Inc. Income Statements For the Years Ended December 31, 2018 and 2017 2017 Common Size 2018 Common Size 0 Net revenue Cost of sales Gross profit Selling, general and administrative expenses Onerating nrnfit $ 952,000 447,000 505,000 327,000 178,000 0 0 Rocky Road Bicycles, Inc. Comparative Balance Sheets December 31, 2018 and 2017 3 4 2018 Common Size 2017 Common Size $ 105,000 217,000 800,000 50,000 1,854,000 (565,000) $ 2,461,000 $ 94,000 450,000 700,000 50,000 1,753,000 (502,000) $ 2,545,000 5 Assets 6 Cash Account receivable 8 Inventory 19 Prepaid rent 20 Plant assets 21 Less accumulated depreciation Total assets 23 24 Liabilities 25 Accounts payable 26 Wages payable 27 Income tax payable 28 29 Equity 30 Common stock 31 Retained earnings 32 Total liabilities and equity 33 $ $ 306,000 27,000 24,000 500,000 27,000 50,000 1,242,000 862,000 $ 2.461,000 1,242,000 726,000 $ 2,545,000 HW #2 Ready * vaan M N O 18 and 2017 for both the balance sheets and income statements (orange shaded areas). al place (ie. 46.3%) Rocky Road Bicydes, Inc. Income Statements For the Years Ended December 31, 2018 and 2017 2018 Common Size 2017 Common Sire $ Net revenue Cost of sales Gross profit Selling, general and administrative expenses Operating profit Interest expense Interest income and other Income before income taxes Provision for income taxes Net Income $ 952,000 447,000 505,000 327,000 178,000 (15,000) 5,000 168,000 32,000 $ 136,000 842,000 395,000 447,000 305,000 142,000 (25,000) 4,000 121,000 25,000 96,000 $ DOLL D NOH