convert the following data into common size financial statements: Nationwide Insurance Financial Highlights (millions) Income Statement 2009 2008 Premiums and policy changes.............$16,996 $17,361 Net investment income.....................2,940 2,789 Net realized investment gains...............781 216 Other-than temporary impairment losses......(865) (1,569) Other income.................................899 994 _____________________________________________________________ Total revenue................................20,751 19,791 Property & casualty losses & loss expenses...10,711 11,616 Life, accident and health benefits............2,083 2,218 Insurance acquisition & other operating expenses......................................7,344 7,638 Net income (loss)...............................716 (342) _____________________________________________________________ Balance Sheet Investment assets..............................63,880 64,690 Separate account assets........................57,358 48,441 Total assets..................................140,084 135,077 Property and casualty loss and loss expense reserves..........................15,113 15,057 Future policy benefits & claims................32,512 35,110 Long-term debt..................................4,403 3,582 Total policyholders' equity....................15,147 12,917 _____________________________________________________________ Key Performance Indicators Return on average policyholder's equity.........5.1% (2.4%) Statutory property & casualty combined ratio....102.9% 107.4% Statutory surplus..............................11,718 10,230 Net operating income..............................979 80 Net flows.......................................3,135 1,520 Full-time equivalent (end of period)...........32,881 33,969 _____________________________________________________________ _____________________________________________________________ Convert the following financial data from Geico into Common Size Statements Balance Sheet (in millions) Assets Cash & equivalents................................3,018 Accounts and notes receivable.....................5,066 Inventory.........................................6,147 Other current assets................................625 Total current assets.............................14,856 Goodwill & other intangibles.....................16,499 Fixed assets......................................2,070 Total............................................48,799 Liabilities and Equity Notes payable......................................1,842 Other current liabilities..........................7,414 Total current liabilities..........................9,256 Deferred taxes.....................................2,834 Term debt and other liabilities....................6,240 Equity............................................30,469 Total.............................................48,799 _____________________________________________________________ Earning Statement (in millions) 2009 2008 2007 Revenues...............................61,665 66,099 59,100 Operating expenses.....................59,509 61,937 55,026 Interest expense...........................98 139 127 ___ ___ ___ Pre-tax earnings.........................2,058 4,023 3,947 Income taxes and minority interests.......945 1,740 1,594 ___ _____ _____ Net income.............................$1,113 $2,283 $2,353