1. 2. After-class Task #2 Common Size Statements Create common size income statements and balance sheets for The Big Shoppe. Interpret your results. The Big Shoppe Income Statement, 2009 and 2010 2009 2010 Common Size Analysis 2009 2010 Net sales $3,815,356 $2,758,535 Cost of goods sold 2,751,085 1,991,777 Gross profit $1,064,271 $766,758 Operating expenses 693,657 504,363 General & Admin. 91,664 67,901 Preopening expense 13,315 9,845 Net operating profit $265,635 $184,649 Interest expense (net) 5,807 2,634 Earnings before taxes $259,828 $182,015 Income taxes Net income 96,400 $163,428 70,061 $111,954