The following condensed income statement and balance sheet are for Bergstrom, Inc., a large retailer of apparel:
Bergstrom, Inc.
Income Statement
Years Ended January 31, 2020 and 2019
(In millions)
Income 2020 2019
Net sales $13,506 $12,540
Bergstrom, Inc. Balance Sheet
January 31, 2020 and 2019
(In millions)
2020 2019
Current assets
Cash and cash equivalents $827 $1,194
Accounts receivable, net $2,306 $2,177
Merchandise inventory $1,733 $1,531
Other current assets $358 $326
Total current assets $5,224 $5,228
Non-current assets
Property, plant, and equipment $3,340 $2,949
Other assets $681 $665
Total assets $9,245 $8,574
Liabilities and shareholders' equity
Current liabilities
$1,744 $1,658
Total current liabilities $4,005 $3,953
Shareholders' equity
Common stock $2,338 $1,827
Total shareholders' equity $9,245 $8,574
Prepare a common-size analysis of the income statements for 2020 and 2019. Use the format shown in Figure 13.4 as a guide. (Round computations to one decimal place.)