Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger

Exercise 50

Preparing Common-Size Income Statements by Using Base Period Horizontal Analysis
Scherer Company provided the following income statements for its first 3 years of operation:

Refer to the information for Scherer Company on the previous page.
Required:
Prepare common-size income statements by using Year 1 as the base period. ( Note: Round answers to the nearest whole percentage.)