Question

Obras Corporation’s condensed comparative income statements and comparative balance sheets for 2014 and 2013 follow.


Required
1. Prepare schedules showing the amount and percentage changes from 2013 to 2014 for the comparative income statements and the balance sheets. (Round to one decimal place.)
2. Prepare common-size income statements and balance sheets for 2013 and 2014. (Round to one decimal place.)
3. Comment on the results in requirements 1 and 2 by identifying favorable and unfavorable changes in the components and composition of thestatements.


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  • CreatedMarch 26, 2014
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