Income statements for Mariners Corp. for the past two years are as follows: (amounts in thousands of dollars) 2014 2013 Sales revenue $60,000 $53,000 Cost of goods sold 42,480 31,482 Gross profit $17,520 $21,518 Selling and administrative expense 8,760 4,876 Operating income $8,760 $16,642 Interest expense 1,860 1,860 Income before tax $6,900 $14,782 Income tax expense 2,000 4,200 Net income $4,900 $10,582

Using the format in Example 13-5, prepare common-size comparative income statements for the two years for Mariners Corp. Round percentages to one decimal point. Mariners Corp. Common-Size Comparative Income Statements For The Years Ended December 31, 2014 And 2013 (In Thousands of Dollars) 2014 Dollars 2014 Percent 2013 Dollars 2013 Percent Sales revenue $ 60,000 100 % $ 53,000 100 %

Cost of goods sold 42,480 31,482

Gross profit $ 17,520 % $ 21,518 %

Selling and administrative expense 8,760 4,876

Operating income $ 8,760 % $ 16,642 %

Interest expense 1,860 1,860

Income before tax $ 6,900 % $ 14,782 %

Income tax expense 2,000 4,200

Net income $ 4,900 % $ 10,582

What are the percentages for 2014 and 2013?

Using the format in Example 13-2, prepare comparative income statements for Mariners Corp., including columns for the dollars and for the percentage increase or decrease in each item on the statement. Round all percentages to the nearest whole percent. If an answer is zero, enter "0"

Mariners Corp.
Comparative Statements of Income
For The Years Ended December 31, 2014 And 2013 (In Thousands of Dollars)
		December 31, 2014		December 31, 2013		Increase/Decrease Dollars		Increase/Decrease (Percent)
		$		$		$		%
Gross profit		$		$		$
		$		$		$
		$		$		$
Net income		$		$		$