Income statements for Yarrick Company for the years ending December 31, 2010,2009, and 2008 are shown below. Prepare a common-size income statement and analyze the profitability of thecompany.
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Yarrick Company Income Statements for the Years Ending December 31, 2010, 2009, and 2008 (in millions) 2010 2009 $155 84 $ 71 31 2008 Net sales Cost of goods sold Gross profit Sales, general, and administrativeexpenses Research and development Operating profit Income tax expense (benefit) Net profit $%237 138 $ 99 42 38 $ 19 $134 72 $ 62 39 54 31) $ 12 $ 20)
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