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Using the comparative income statement provided as a template, perform a common-size analysis for Crane Bay, expressing each line item as a percentage of total
Using the comparative income statement provided as a template, perform a common-size analysis for Crane Bay, expressing each line item as a percentage of total sales revenue. (Round answers to 0 decimal places, e.g. 15\%.) Operating Expenses Selling Expenses Administrative Expenses Depreciation Expense Interest Expense Total Operating Expenses Income before Income Taxes Income Taxes Net Income % % % % % % % % % CRANE BAY COMPANY Income Statement For the Year Ended May 31 SalesRevenueCostofGoodsSoldGrossProfit2024$10,412,0003,644,2006,767,8002023$12,193,0004,389,4807,803,520 Operating Expenses
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