Part 5 COMMON SIZED STATEMENTS How and why has one balance sheet item in the total assets section changed year over year? (Reference this item as a percentage of total assets) i.e. inventory as a percentage of total assets has seen a gradual decrease from 2017 to 2019 because... How and why has one income sheet item as a percentage of revenues changed year over year? i.e., gross profit as a percentage of revenues has seen a marked increase from 2017 to 2019 because.... Common-Sized - Condensed Balance Sheet Current assets Property, plant, and equipment, net Goodwill and other intangible assets Other assets Total assets 12/31/2017 87% 5% 7% 1% 100% 12/31/2018 82% 13% 5% 1% 100% 12/31/2019 79% 11% 5% 5% 100% Current liabilities Long-term liabilities Total liabilities Contributed capital Retained earnings Treasury stock and other equity Total equity 18% 23% 41% 48% 62% 51% 161% 8% 19% 28% 55% 64% 49% 168% 10% 20% 30% 46% 95% 70% 210% Condensed - Income Statement Sin Millions Revenue Cost of goods sold Gross profit Other Expenses Net income Earnings per share (diluted) 12/31/2017 12/31/2018 12/31/2019 $ 6,910,000 $ 9,714,000 $ 11,716,000 2,847,000 3,878,000 4,545,000 4,063,000 5,822,000 7,171,000 4,973,000 6,504,000 3,030,000 $ 1,666,000$ 3,047,000$ 4,141,000 $ 2.57 $ 4.82 $ 6.63 Common-Sized Income Statement Revenue Cost of goods sold Gross profit Other Expenses Net income 12/31/2017 100% 41% 59% 72% 24% 12/31/2018 100% 40% 60% 67% 31% 12/31/2019 100% 39% 61% 26% 35%