Common Size Income Statement
The income statement is one of the three main financial reports used by all businesses, from small to large businesses. While income statements may seem overwhelming at first, they are an essential part of doing business and you will soon come to appreciate the valuable information they provide to your business. When used together, the income statement, balance sheet, and cash flow statement provide a clear picture of your company’s overall financial position and serve as useful tools for analysis, planning, and decision-making.
A common size income statement is used to analyze how each line item on an income statement affects the overall profit of the company. Because these income statements are primarily used for analysis, each account is shown as a percentage of the total sales value and not as an actual dollar amount.
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