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Cuneo companys income statements for the last three years


Question: Cuneo Company's income statements for the last three years are as follows:

699_Cuneo.png

Horizontal Analysis Refer to the information for Cuneo Company on the previous page.

Required: 1. Prepare a common-size income statement for Year 2 by expressing each line item for Year 2 as a percentage of that same line item from Year 1.

2. Prepare a common-size income statement for Year 3 by expressing each line item for Year 3 as a percentage of that same line item from Year 1.

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Accounting Basics: Cuneo companys income statements for the last three years
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