Express the comparative income statements that follow as common-size statements, 3,200and comment on the changes from 20x5 to 20x6. (Round computations to one decimal place.) L01

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Trumpet Company Comparative Income Statements For the Years Ended December 31, 20x4 and 20x3 20x4 Net sales $424,000 Cost of goods sold 254,400 Gross margin $169,600 Selling expenses General expenses Total operating expenses Operating income 20x3 $106,000 50,880 $156,880 $ 12,720 $368,000 239,200 $128,800 $ 73,600 36,800 $110,400 $ 18,400