what doe Common-size financial statements provide in businesses?

The common size financial statements are beneficial for the business it helps the management to actually compare the statements of their own business of two different business cycles or can actually compare the current year statement with the previous statement to get to know whether the business has performed well than the previous year in terms of profits and margins or not so that necessary steps can be taken at the right time, Now the common size statements of the firm are actually prepared by taking a base no. and calculating the other items in the balance as the percentage of the base number we took so that the data can be standardized and can be compared with ease.