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Please help prepare common size income statement and answer question below did the net income improve or get worse and why? 325 EQUIRED: YOU ARE

Please help prepare common size income statement and answer question below "did the net income improve or get worse and why?"image text in transcribed

325 EQUIRED: YOU ARE TO PREPARE A COMMON SIZE INCOME STATEMENT below, alculate the selected 2018 growth rates, and answer the question at the bottom tarco Industries Inc. ears ending December 31 come Statement 2017 to 2018 2018 2017_Growth Rate Revenues 35,250 $ 32,565 L Cost of goods sold 25,400 23.770 Gross profit 9,850 8,795 Overhead expenses 2.580 2,560 General expenses Advertising and marketing 1,890 1,760 Depreciation Total expenses 5.900 EBIT 3,950 3.115 Interest expense 550 Taxable income 3,400 2.555 Taxes 745 Net Income 2.655 COMMON SIZE: Revenues Cost of goods sald Gross profit Overhead expenses General expenses Advertising and marketing Depreciation Total expenses EBIT Interest expense Taxable income Taxes Net income Question: Did the company's net income margin improve in 2018 or get worse when compared to 2017 and what were the primary expense items responsible for this change

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