Computer City, Inc.'s comparative income statement is shown below:
Required:
Prepare a common-size income statement for 2012 and 2011 showing the percentages for each item listed above. Round percentages to one-tenth percent.
Definitions:
Actor-Observer Effect
A cognitive bias in which people tend to attribute their own actions to external circumstances but attribute others' actions to their personalities or character.
Primacy Effect
The tendency to remember the first pieces of information in a series better than the information in the middle.
Computer Programming
The process of designing, writing, testing, debugging, and maintaining the source code of computer programs.
Defensive Attribution
A theory suggesting that people attribute unforeseeable actions either to the victim or the perpetrator, in an effort to distance themselves from the possibility of experiencing a similar event.
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