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Presented below are the comparative income statements for Mayling, Inc. for the years 2003 through 2005.

   MAYLING, INC.
   Income Statements
   For the Year Ended
         2005               2004               2003     
Net sales   $5,185,000   $5,066,000   $5,212,000
Cost and expenses
   Cost of sales   2,846,000   2,846,000   2,904,000
   Selling, general & administrative        1,785,000        1,730,000        1,740,000
   Total Expenses        4,631,000        4,576,000        4,644,000
Income before income taxes   554,000   490,000   568,000
Income taxes           125,000           111,000             127,000
Net income         $429,000         $379,000         $441,000

Net income per common share               $0.86                 $.76               $0.88

REQUIRED:
a.)   Compute the common-size income statement in the space provided.

   MAYLING, INC.
   Income Statements
   For the Year Ended
         2005               2004               2003     
Net sales                             
Cost and expenses
   Cost of sales                             
   Selling, general & administrative   ________   ________   ________
   Total Expenses   ________   ________   ________
Income before income taxes                             
Income taxes   ________   ________   ________
Net income                                                            

Net income per common share                                                              

b.)   Answer the following questions:
1.)   Has the net income percentage increased or decreased over time?
2.)   What components of net income contributed to its increase or decrease?

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How do you know this stuff so well, wish I was as smart

Happy to help, please mark as solved