Robert Corporation's condensed comparative income statement and comparative balance sheets for 2011 and 2010 follow.

Required
1. Prepare schedules showing the amount and percentage changes from 2010 to 2011 for the comparative income statements and balance sheets.
2. Prepare common-size income statements and balance sheets for 2010 and 2011.
3. Comment on the results in requirement 1 and 2 by identifying favorable and unfavorable changes in the components and composition of the statements.

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Robert Corporation Comparatlve Income Statements For the Years Ended December 31, 2011 and 2010 2010 Cost of goods sold Gross margin Operating expenses $1,638,400 1,044,400 594,000 $1,573,200 1,004,200 569,000 Selling expenses 238,400 223,600 462,000 132,000 32,800 $ 99,200 31 200 S 68,000 $ 3.40 259,000 211,600 470,600 $ 98,400 19,600 78,800 28,400 $ 50,400 2.52 Administrative expenses 4 Total operating expenses Income from operations Interest expense Income before income taxes Income taxes expense Net income Robert Corporation Comparative Balance Sheets December 31, 2011 and 2010 2011 2010 Assets $ 40,600 117,800 287.400 375,000 820,800 Liabilities and Stockholders' Equity $133,800 100,000 200,000 200,000 187,000 Total liabilities and stockholders' equity 820,800 Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) Total assets 20,400 114,600 297,400 360,000 $792,400 Accounts payable Notes payable (short-term) Bonds paya Common stock, $10 par value Retained earnings $238,600 200,000 ble 200,000 153,800 $792,400