Assignment-1 (2%)
Calculate Common Size Balance Sheet
Liabilities and Equity:	2023
Accounts payable	$150
Notes payable--current (9%)	150
Current liabilities
Bonds	600
Owners' equity
Common stock	900
Retained earnings	800
Total owners' equity	1,700
Total liabilities and owners' equity
Calculate Common Size Income Statement
Income Statement:	2023
Sales	$1,450
Cost of goods sold	850
Gross profit
Operating expenses	40
Depreciation	200
Net operating income
Interest expense	64
Net income before taxes
Taxes (40%)	118
Net income