Cornerstones of Managerial Accounting 4th Edition by Maryanne Mowen, Don Hansen, Dan Heitger

Exercise 17

Scherer Company provided the following income statements for its first three years of operation:
Preparing Common-Size Income Statements by Using Base Period Horizontal Analysis
Refer to the information for Scherer Company above.
Required:
Prepare common-size income statements by using Year 1 as the base period. ( Note: Round answers to the nearest whole percentage.)