Prepare a common size income statement and balance sheet for Maron products. The first column of each statement should present the companies common size statement and the second column should show the industry averages. (round the percentages to the nearest one-tenth percent)

Top managers of Maron Products to take you to compare the company profite and financial position with the average to the wy The company's accountants give you the buena's income statement, la short and indo Cik hen to where the one view the anche) Head the Requirement trupore a common se income strument and wance sheet for Meron Products. The first corum catches treneri ho company common site statement, and the wood column wave show e incom verage Round te percentage to the repeat. XXX) Start by come income statement for Prote Maron Products, in Common Income and compared with industry Awerage Year Ended December 31, 2018 Industry Aw Costolos 4 Opera Opening income Othern 28 ce on to vi pon-size statement, and the second cc alance nt, XX oducts, Maron Products, Inc. Balance Sheet Compared with Industry Average December 31, 2018 Industry Maron Average 442,000 72.1 % Current assets 122.400 19.0 Plant assets, net 21,760 4.8 Intangible assets, net 93,840 4.1 Other assets 680,000 Total try Aver Indy 100.0 % Ave S 47.2 % Current liabilities Long-term liabilities 323,000 149,600 207,400 21.0 31.8 Stockholders' equity 680,000 100.0 Total bmmon-size statement, and the second column should balance shed cent, X.X%.) Products, Inc. ustry Average Maron Products, Inc. Income Statement Compared with Industry Average Year Ended December 31, 2018 Industry Maron Average Net sales $ 1,000,000 100.0 % 710,000 573 Cost of goods sold Gross profit 290,000 42.7 230,000 29.4 Operating expenses 60,000 13.3 Operating income 20.000 2.5 Other expenses $ 40,000 Net income Industri Averag 100 57 10.8% 42 29