Consider these statements about the common-sizing technique and determine which are correct.

I. Vertically common-sized income statements recast each statement item as a percent of total assets.

II. Horizontally common-sized income statements recast each statement item as a percent of sales.

III. Horizontally common-sized statements provide an indication of growth and decline from period to period while vertically common-sized statements offer insight into a given period.

Select one:

a. One is true

b. Two are true

c. All are true

d. All are false