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

Exercise 33

Horizontal Analysis
Sundahl Company's income statements for the past 2 years are as follows:
Refer to the information for Sundahl Company above.
Required:
Prepare a common-size income statement for Year 2 by expressing each line item for Year 2 as a percentage of that same line item from Year 1. ( Note : Round percentages to the nearest tenth of a percent.)