Whale Corporation’s condensed comparative balance sheets and condensed comparative income statements for 2012 and 2011 follow.REQUIRED1. Prepare schedules showing the amount and percentage changes from 2011 to 2012 for the comparative income statements and the balance sheets.2. Prepare common-size income statements and balance sheets for 2011 and 2012.3. Comment on the results in 1 and 2 by identifying favorable and unfavorable changes in the components and composition of thestatements.
Whale Corporation s condensed comparative balance sheets and condensed comparative income