This case should be completed after responding to the requirements in Decision Case 13-2. Refer to the financial statement information of Under Armour and Columbia Sportswear reprinted at the back of the book.

Required

1. Using the format in Example 13-5, prepare common-size comparative income statements for2011 and 2010, for Columbia Sportswear. Round all percentages to the nearest one-tenth of a percent.

2. The common-size comparative income statements indicate the relative importance of items on the statement. Compare the common-size income statements of Columbia Sportswear and Under Armour. What are the most important differences between the two companies' income statements?

3. Using the format in Example 13-4, prepare common-size comparative balance sheets at the end of 2011 and 2010, for Columbia Sportswear. Round all percentages to the nearest one-tenth of a percent.

4. The common-size comparative balance sheets indicate the relative importance of items on the statement. Compare the common-size balance sheets of Columbia Sportswear and Under Armour. What are the most important differences between the two companies' balance sheets?