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Class-prepare a common-size income statement for the McMahon Music Co. Do this in Excel. Do not post your spreadsheet in the discussion, but rather, place a screenshot of it. How did you format the cells? Any suggestions on where to obtain assistance with building the spreadsheet?

Paul

E13-19A Prepare a comparative common-size income statement for McMahon Music, Co.,
using the 2012 and 2011 data below (round to four decimal places).

	McMahon Music Co.
	Comparative Income Statements
	Years Ended December 31, 2012 and 2011
		2012	2011
	Total revenue	$ 1,077,000	$ 917,000
	Expenses:
	Cost of goods sold	$ 477,000	$ 408,750
	Selling and general expenses	287,000	265,000
	Interest expense	23,500	13,500
	Income tax expense	105,500	84,650
	Total expenses	893,000	771,900
	Net income	$ 184,000	$ 145,100