Consider the data presented in Exercise 15-13.

Requirements
1. Prepare a comparative common-size income statement for Mariner Designs, Inc., using the 2012 and 2011 data. Round percentages to one-tenth percent (three decimal places).
2. To an investor, how does 2012 compare with 2011? Explain yourreasoning.

MARINER DESIGNS, INC. Comparative Income Statement Years Ended December 31, 2012 and 2011 2011 2012 $ 431,000 | S 372,350 Net sales revenuc Expenses: S 200,000 S 187,550 Cost of goods sold Selling and general expenses Other expense 99,000 91,050 8,350 $ 307,350 S 285,450 S 123,650 S 86,900 6,850 Total expenses Net income