Question: Income statement relations. Selected income statement information for Pfizer, a pharmaceutical company, for three recent years appears below (amounts in millions): a. Compute the missing
Income statement relations. Selected income statement information for Pfizer, a pharmaceutical company, for three recent years appears below (amounts in millions):

a. Compute the missing amounts for each of the three years.
b. Prepare a common-size income statement for each year, in which sales equals 100 percent and each expense and net income are expressed as a percentage of sales. What factors appear to explain the change in the ratio of net income to sales?
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
