Indicate Whether Each of the Following Statements Is True or False

Indicate whether each of the following statements is true or false.
_____ a) A common size income statement facilitates comparison between two or more companies of different size and in the same industry.
_____ b) A common size income statement is prepared by dividing the various amounts reported on the income statement by the amount of total assets.
_____ c) A common size income statement is helpful in comparing the results of operations in different time periods.