Data for Martin Corp and Tante, Inc follow

Martin Tante
Net Sales $25,000 $32,500
Cost of Goods Sold 18,500 22,360
Other Expenses 2,150 5,000
Net Income $4,350 $5,140

Prepare a comparative common-size income statement for each company for the year ending December 31, 2017. Round to two decimal places. Use a multi-step format for the income statement.
What will be an ideal response

Martin Versus Tante
Comparative Income Statement
Year Ended December 31, 2017

Martin Tante
Percent of Percent of
Total Total
Net Sales 100.00 100.00
Cost of Goods Sold 74.00 68.80
Gross Profit 26.00 31.20
Operating Expenses: 0.00 0.00
Operating Income 26.00 31.20
Other Revenues and (Expenses): (8.60 ) (15.38 )
Total Other Revenues and (Expenses) (8.60 ) (15.38 )
Net Income 17.40 15.82