Data for Harlan Designs, Inc. follow: (Click the icon to view the data.) Read the requirements....

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Data for Harlan Designs, Inc. follow: (Click the icon to view the data.) Read the requirements. Requirement 1. Prepare a comparative common-size income statement for Harlan D percent, X.X. Enter the percentages without the %. For example, enter 1.1% as 1.1.) Net Sales Revenue Expenses: Harlan Designs, Inc. Common-Size Income Statement Years Ended December 31, 2024 and 2023 2024% Net Income Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses % % % % % % 2023 % % % % % % % Requirements 1. Prepare a comparative common-size income statement for Harlan Designs, Inc. using the 2024 and 2023 data. Round percentages to one-tenth percent. 2. To an investor, how does 2024 compare with 2023? Explain your reasoning. Print Net Income Harlan Designs, Inc. Comparative Income Statement Net Sales Revenue Expenses: Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses Done Years Ended December 31, 2024 and 2023 2024 $ 431,500 $ 373,450 203,000 98,650 6,000 2023 307,650 $ 123,850 $ 185,000 95,350 4,000 284,350 89,100 — Data for Harlan Designs, Inc. follow: (Click the icon to view the data.) Read the requirements. Requirement 1. Prepare a comparative common-size income statement for Harlan D percent, X.X. Enter the percentages without the %. For example, enter 1.1% as 1.1.) Net Sales Revenue Expenses: Harlan Designs, Inc. Common-Size Income Statement Years Ended December 31, 2024 and 2023 2024% Net Income Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses % % % % % % 2023 % % % % % % % Requirements 1. Prepare a comparative common-size income statement for Harlan Designs, Inc. using the 2024 and 2023 data. Round percentages to one-tenth percent. 2. To an investor, how does 2024 compare with 2023? Explain your reasoning. Print Net Income Harlan Designs, Inc. Comparative Income Statement Net Sales Revenue Expenses: Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses Done Years Ended December 31, 2024 and 2023 2024 $ 431,500 $ 373,450 203,000 98,650 6,000 2023 307,650 $ 123,850 $ 185,000 95,350 4,000 284,350 89,100 —

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To prepare a comparative commonsize income statement for Harlan Designs Inc we need to calculate each expense category as a percentage of net sales re... View the full answer