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Prepare a comparative common-size income statement for McCormick Corporation. To an investor, how does the...

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Prepare a comparative common-size income statement for McCormick Corporation. To an investor, how does the current year compare with the prior year? (Click the icon to view the comparative Income statement.) Prior year Start by calculating the percentages. (Round the percentages to two decimal places, X.XX.) McCormick Corporation Comparative Common-Size Income Statement For the Years Ended December 31 Current year Sales revenues 100.00% 100.00 % Less: Cost of goods sold % % Gross profit % % Less: Operating expenses % % Operating income % % Less: Interest expense % % Income before Income taxes % % Less: Income tax expense % % Net Income % % - Data Table A B 1 McCormick Corporation N Income Statement 3 For the Years Ended December 31 4 5 Prior year 6 Sales revenues (amounts in thousands) Current year $ 426,411 $ 371,600 180,761 . 166,600 $ 245,650 $ 205,000 100,250 95,020 7 Less: Cost of goods sold 8 Gross profit 9 Less: Operating expenses 10 Operating income $ 145,400 $ 109,980 11 Less: Interest expense 12 Income before income taxes 10,150 7,025 $ 135,250 $ 102,955 38,210 29,990 $ 97,040 $ 72,965 13 Less: Income tax expense 14 Net income Print Done

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