Eikner Inc operates two small clothing stores in southeastern Idaho
Eikner, Inc. operates two small clothing stores in southeastern Idaho. Following are this company’s income statements for the years ended December 31, 2007 through 2009, and year-end balance sheets for 2007 through 2009.
Required:
(a) Prepare common-sized income statements for Eikner, Inc. for 2007 through 2009.
(b) What major structural changes occurred over this three-year period in Eikner’s income statement data? Are these changes apparently favorable or unfavorable? Explain.
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