Standardized Financial Statements Common-Size Balance Sheets Compute all accounts as a percent of total assets Common-Size Income Statements Compute all line items as a percent of sales Standardized statements make it easier to compare financial information,particularly as the company grows They are also useful for comparing companies of different sizes,particularly within the same industry3 Standardized Financial Statements n Common-Size Balance Sheets q Compute all accounts as a percent of total assets n Common-Size Income Statements q Compute all line items as a percent of sales n Standardized statements make it easier to compare financial information, particularly as the company grows n They are also useful for comparing companies of different sizes, particularly within the same industry