Data for Martin Corp. and Tante, Inc. follow:

Martin Tante

Net Sales $25,000 $32,500

Cost of Goods Sold 18,500 22,360

Other Expenses 2,150 5,000

Net Income $4,350 $5,140

Prepare a comparative common-size income statement for each company for the year ending December 31, 2017. Round to two decimal places. Use a multi-step format for the income statement.

Martin Versus Tante

Comparative Income Statement

Year Ended December 31, 2017

Martin Tante

Percent of Percent of

Total Total

Net Sales 100.00 100.00

Cost of Goods Sold xx xx

Gross Profit xx xx

Operating Expenses: 0.00 0.00

Operating Income xx xx

Other Revenues and (Expenses): (xx) (xx)

Total Other Revenues and (Expenses) (xx) (xx)

Net Income xx xx