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.

Transcribed Image Text:

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