The McConnell Department Stores, Inc. CEO has asked you to compare the company's profit performance and financial position with the averages for the industry. The CEO has given you the company's income statement and balance sheet as well as the industry average data for retailers. 1. Prepare a common-size income statement and balance sheet for McConnell. The first column of each statement should present McConnell's common-size statement, and the second column, the industry averages.

1 of 1 (0 complete) Score: 0 of 15 pts P15-29A (similar to) The McConnell Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company's profit performance income statement and balance sheet as well as the industry average data for retailers. (Click the icon to view the income statement)(Click the icon to view the balance sheet ents Requirement 1. Prepare a common-size income statement and balance sheet for McConnell. The first column of each statement sh averages Round your answers to one decimal place xs) Begin by preparing the common-size income statement for McConnell McConnell Department Stores, Inc. Common-Size Income Statement Year Ended December 31, 2016 McConnell Industry Average 100.0% 65.8 Net Sales Cost of Goods Sold Gross Profit Operating Expenses 34.2 % 19.7 % Enter any number in the edit fields and then click Check Answer parts remaining Clear All