Question: Problem 14.1A (Static) Comparing Operating Results with Average Performance in the Industry (LO14-1, LO14-5) Outdoor World, Inc., manufactures camping equipment. Shown for the current year

Problem 14.1A (Static) Comparing Operating Results with Average Performance in the Industry (LO14-1, LO14-5) Outdoor World, Inc., manufactures camping equipment. Shown for the

Problem 14.1A (Static) Comparing Operating Results with Average Performance in the Industry (LO14-1, LO14-5) Outdoor World, Inc., manufactures camping equipment. Shown for the current year are the Income statement for the company and a common slze summary for the Industry In which the company operates. Requlred: a. Prepare a common size income statement. The first column should show for Outdoor World, Inc., all Items expressed as a percentage of net sales. The second column has been completed and shows the equivalent Industry average for the data given In the problem. The purpose of this common size statement Is to compare the operating results of Outdoor World, Inc., with the average for the Industry. b. If results of Outdoor World is better or worse than industry average

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