Here, we have a tab that's called Dell income statement. What we're going to do is we're going to do a common sizing of the income statement for Dell. With the balance sheet, we divided all of the information by the total assets. Here we're going to divide every element by operating revenue, what might also be called sales. So, what I do is I go to my column here, and I'm going to label this guy Common here, Common 11. And we're going to do that same thing over here. This is going to be called Common 12, is Common 10, excuse me, 10. And here's Common 9, okay? And here's going to be Common 8. So now, what I'm going to do is I'm going to take the information in this cell. So, I want to take the information in this cell and divide it by my total sales, which is of course that cell. Now, I'm going to divide everything by total sales. Let's just do it, we get one. So, a 100% of my revenue comes from a 100% of my revenue, very simple. But I want to make the second cell my reference cell, okay. So I type my little dollar signs around each part of it. And now I'm going to turn this into a percentage, so I'm going to go up here and hit Percentage. And I'm going to give myself a couple of decimal places. Now I'm going to just go down here to the bottom right-hand corner and do a little crosshairs, do a double tap, and this scrolls down. Now, I'm going to need to do some copying and pasting because I've got some empty cells here. So, I'm just going to delete this cell here, and delete some of these other cells. But I just want to give you an idea about what's going here and why we care about this. So, here's what we have. I've got a common size, and my common size says that 100% of my revenue comes from 100% of my revenue. Now my COGS is 79.89%. So, the numbers, by common sizing it, now I have a basis for a very easy translation into what's going on in my organization in terms of my revenues and my costs. For example, this number 79.89 says that it cost me 79 cents in materials for every dollar worth of sales. So what happens is that my gross margin is 20%. That is, after I take care of the cost of the goods, I have 20 cents out of each dollar left. Then this says right here, R&D, research and development expenses, that's 1% of my total sales. SG&A is 11% of my total sales. So my operating income, right, is 5.58. So when I add depreciation back in, my EBITDA is 7.16. That is, if I have $100 worth of sales, when I account for my COGS and my operational expenses, what's left is $7.16. Is that a good margin, or is that a bad margin? It's a margin. In order to understand if it's good, if it's bad, we have to look at industry levels. What's going on in companies in the same industry, and how do they compare? So then right here, so my margins. EBITDA, 7.16. EBIT, 5.77. EBT, 5.14. So my net income from continuing operations, 4.28. So that is, out of every $100 that I generate from sales, I can walk away at the end of the day with $4.28. Let's do a common sizing for 2010, 2009, and 2008, all for Dell. Pause it here, try this, and then we'll come back and I'll show you the completed formula and the completed sheet.