Question: Cuneo Company's income statements for the last three years are as follows:
Horizontal Analysis Refer to the information for Cuneo Company on the previous page.
Required: 1. Prepare a common-size income statement for Year 2 by expressing each line item for Year 2 as a percentage of that same line item from Year 1.
2. Prepare a common-size income statement for Year 3 by expressing each line item for Year 3 as a percentage of that same line item from Year 1.