Question: I need Help with requirements 1, 2 and 3; More info and data tables are listed below Data Tables: Top managers of Caffrey Products, Inc.,
I need Help with requirements 1, 2 and 3; More info and data tables are listed below



Data Tables:

Top managers of Caffrey Products, Inc., have asked for your help in comparing the company's profit performance and financial position with the average for the industry. The accountant has given you the company's income statement and balance sheet and also the following data for the industry (Click the icon to view the income statement.(Click the icon to view the balance sheet.) Read the requirements Requirement 1. Prepare a common-size income statement and balance sheet for Caffrey Products. (Round the percentages to the nearest one-tenth percent. X.X%.) Start by preparing a common-size income statement for Caffrey Products, Inc. Caffrey Products, Inc. Common-Size Income Statement Compared with Industry Average Year Ended December 31, 2012 Industry Average Caffrey Net sales Cost of goods sold Gross profit Operating expenses Operating income Other expenses Net income 100.0 % 57.3 42.7 29.4 13.3 25 10.8%
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