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):

Income statement relations. Selected income statement information for Pfizer, a pharmaceutical company,

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?

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