Solution-The abercrombie supply company reported the

The Abercrombie Supply Company reported the following information for 2011. Prepare a commonsize income statement for the year ended June 30, 2011.

Abercrombie Supply Company Income Statement for the Fiscal Year Ended June 30, 2011 ($ thousands)
Net sales	$ 2,110,965
Cost of goods sold	1,459,455
Selling and administrative expenses	312,044
Nonrecurring expenses	27,215
Earnings before interest, taxes, depreciation, and amortization (EBITDA)	$ 312,251
Depreciation	112,178
Earnings before interest and taxes (EBIT)	$ 200,073
Interest expense	117,587
Earnings before taxes (EBT)	$ 82,486
Taxes (35%)	28,870
Net income	$ 53,616

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