Question: Prepare a comparative common-size income statement for P. Donnelly, Inc., using the 2016 and 2015 data of E12-22B. Round percentages to the nearest tenth of

Prepare a comparative common-size income statement for P. Donnelly, Inc., using the 2016 and 2015 data of E12-22B. Round percentages to the nearest tenth of a percent?

P. Donnelly, Inc. Comparative Inoome Statement Years Ended December 31, 2016 and 2015 2016 2016 $439,500 Revenue $500,00

P. Donnelly, Inc. Comparative Inoome Statement Years Ended December 31, 2016 and 2015 2016 2016 $439,500 Revenue $500,000 Expenses: $245,000 111,000 10,000 Cost of Goods Sold $236,000 Selling and General Expenses Interest Expense Income Tax Expense Total Expenses 103,500 6,500 54,700 44,400 390,400 $ 49,100 420,700 $ 79,300 Net Income

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