Prepare a comparative common-size income statement for Stamps Music Lid. using the 2020 and 2019 data of exercise 10-14 and rounding percentages to one-tenth percent (three decimal places).

Exercise 10-14

Prepare a horizontal analysis of the comparative income statement of Stamps Music Ltd. Round percentage changes to the nearest one-tenth percent (three decimal places).

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1 A Stamps Music Ltd. Comparative Income Statement For the Years Ended December 31, 2020 and 2019 2 3 Total revenue 4 Expenses: 10 5 Cost of goods sold Selling and general expenses 6 7 Interest expense 8 Income tax expense 9 Total expenses 10 Net income 11 B C D 2020 2019 $ 403,000 $ 430,000 $ 188,000 $202,000 93,000 90,000 4,000 10,000 37,000 322,000 $ 81,000 42,000 344,000 $ 86,000