Requirement 1. Prepare a comparative common-size income statement for Mill Designs, Inc. using the 2024 and...

Transcribed Image Text:

Requirement 1. Prepare a comparative common-size income statement for Mill Designs, Inc. using the 2024 and 2023 data. Round percentages to one-tenth percent. (Round the percentages to c Mill Designs, Inc. Common-Size Income Statement Years Ended December 31, 2024 and 2023 Data table 2024% 2023% % Mill Designs, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 2024 2023 Net Sales Revenue Expenses Cost of Goods Sold % % Selling and Administrative Expenses % % Net Sales Revenue Other Expenses % Expenses: Total Expenses % Cost of Goods Sold Net Income $ 432,550 $ 373,450 202.000 186,250 Selling and Administrative Expenses 96,000 93,000 8.500 5,000 Other Expenses 306,500 284,250 Total Expenses 126,050 $ 89,200 Net Income: Print Done Requirement 1. Prepare a comparative common-size income statement for Mill Designs, Inc. using the 2024 and 2023 data. Round percentages to one-tenth percent. (Round the percentages to c Mill Designs, Inc. Common-Size Income Statement Years Ended December 31, 2024 and 2023 Data table 2024% 2023% % Mill Designs, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 2024 2023 Net Sales Revenue Expenses Cost of Goods Sold % % Selling and Administrative Expenses % % Net Sales Revenue Other Expenses % Expenses: Total Expenses % Cost of Goods Sold Net Income $ 432,550 $ 373,450 202.000 186,250 Selling and Administrative Expenses 96,000 93,000 8.500 5,000 Other Expenses 306,500 284,250 Total Expenses 126,050 $ 89,200 Net Income: Print Done