Prepare a comparative common-size income statement for Jubilee Corporation. To an investor, how does 2017 compare with
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Jubllee Corporatlon Income Statement For the Years Ended December 31, 2017 and 2016 (amounts In thousands) 2017 494,208 S 172,640 321,568 S 143,370 178,198 S 7,500 170,698 $ 33,990 136,708 S 2016 429,000 160,000 269,000 135,000 134,000 6,000 128,000 24,000 104,000 6 Sales revenues 7 Less: Cost of goods sold 8 Gross profit 9 Less: Operating expenses 10 Operating Income 11 Less: Interest expense 12 Income before Income taxes 13 Less: Income tax expense 14 Net Income 15
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