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Selected financial information (in 000s) from the financial statements of Moosomin Ltd. for Years 6 and 7 is as follows: Year 6 Year 7 Sales
Selected financial information (in 000s) from the financial statements of Moosomin Ltd. for Years 6 and 7 is as follows: Year 6 Year 7 Sales revenue $ 1,350 $ 1,450 Cost of goods sold 740 845 Other expenses 380 295 Net income 230 310 Current assets 470 510 Total assets 1,600 1,690 Total liabilities 1,110 1,020 Shareholders' equity 490 670 Required: (a) Convert Moosomins financial statements for both Year 6 and Year 7 into common-sized financial statements using (Input all amounts as positive values. Round the final answers to the nearest whole percent. Omit % sign in your response.) (i) Vertical analysis Financial Statements Year 6 Year 7
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