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Prepare a comparative common-size income statement for McCormick Corporation. To an investor, how does the current year compare with the prior year? Explain your
Prepare a comparative common-size income statement for McCormick Corporation. To an investor, how does the current year compare with the prior year? Explain your reasoning. (Click the icon to view the comparative income statement.) Start by calculating the percentages. (Round the percentages to two decimal places, X.XX.) McCormick Corporation Comparative Common-Size Income Statement For the Years Ended December 31 Sales revenues Current year Prior year 100.00% 100.00% Less: Cost of goods sold Gross profit Less: Operating expenses Operating Income Less: Interest expense Income before income taxes Less: Income tax expense Net Income Now you are ready to compare the two years.
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