1. How can common size statements be useful for comparison purposes? To what can

1. How can common size statements be useful for comparison purposes? To what can you compare? How can a company improve itself with the information generated? Use at least one SPECIFIC example (your own or through research) to bolster your response.2. Why are a companys credits policy and its accounts receivable management so important? What are some possible repercussions of not managing these? Provide an example of a company that didnt have a strong credit policy and/or did a poor job of managing its accounts receivable and paid a steep price for doing so.