Comparative income statement for Bluth Company is shown below. Prepare a common-size income
statement for both the current and prior year.
Bluth Company
Income Statement
December 31, 20X2
Current Year Prior Year
Net Sales
$ 715,800 $ 615,300
Cost of Goods Sold
428,600
388,500
Gross Profit
287,200
226,800
Operating Expenses
168,500
132,800
Income from Operations
118,700
94,000
Interest Expense
22,300
11,200
Income before Taxes
96,400
82,800
Income Taxes
28,000
27,000
Net Income
$ 68,400 $ 55,800