The income statements for Sommerset Corporation for 2019 and 2018 follow:

a. Prepare a common-size income statement for 2019 and 2018. Round to one decimal place.
b. Comment on the most significant changes.

Question

The income statements for Sommerset Corporation for 2019 and 2018 follow:
  
a. Prepare a common-size income statement for 2019 and 2018. Round to one decimal place.
b. Comment on the most significant changes.

Quizplus · Accepted Answer

The Answer of The income statements for Sommerset Corporation for 2019 and 2018 follow:
  
a. Prepare a common-size income statement for 2019 and 2018. Round to one decimal place.
b. Comment on the most significant changes.

The Income Statements for Sommerset Corporation for 2019 and 2018