In a Common Size Statement of Profit and Loss, all items are expressed as a percentage of Revenue from Operations (Sales). This helps in analyzing the relationship between sales and various expenses, incomes, and profits.
(Option 1) is related to the Balance Sheet, not the P&L statement.
(Option 2) is a broader objective of financial analysis, not the specific purpose of a common-size P&L statement.
(Option 3) correctly states the primary objective.