Refer to the data presented for McCormick Designs, Inc. in Exercise E15-15.
Exercise E15-15

Requirements
1. Prepare a comparative common-size income statement for McCormick Designs, Inc. using the 2016 and 2015 data. Round percentages to one-tenth percent (three decimal places).
2. To an investor, how does 2016 compare with 2015? Explain your reasoning.

MCCORMICK DESIGNS, INC Comparative Income Statement Years Ended December 31, 2016 and 2015 2016 2015 Net Sales Revenue 431,250 S373,000 Expenses Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses 189,000 92,550 2,150 283,700 $121,200 89300 202,000 100,050 8,000 310,050 Net Income