Cheshire Inc. had the following condensed income statements for the years ending December 31, 2012 and 2011.
Required: Using vertical analysis, prepare common-size comparative income statements for 2012 and 2011. Round percentages to two decimal places.

Question

Cheshire Inc. had the following condensed income statements for the years ending December 31, 2012 and 2011.
  Required: Using vertical analysis, prepare common-size comparative income statements for 2012 and 2011. Round percentages to two decimal places.

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The Answer of Cheshire Inc. had the following condensed income statements for the years ending December 31, 2012 and 2011.
  Required: Using vertical analysis, prepare common-size comparative income statements for 2012 and 2011. Round percentages to two decimal places.