17 MCCORMICK DESIGNS, INC. Comparative Income Statement Years Ended December 31, 2016 and 2015 2015 2016 Net Sales Revenue $373,000 $ 431,250 Expenses: Cost of Goods Sold 189,000 202,000 Selling and Administrative Expenses 92,550 100,050 Other Expenses 8,000 2,150 Total Expenses 310,050 283,700 Net Income $121,200 $ 89,300 ements J 8E Tri Designs's balance sheet for each year. E2-18 Preparing common-size income statements Learnin Refer to the data presented for McCormick Designs, Inc. in Exercise E2-15 1.2016 Requirements 1. Prepare a comparative common-size income statement for McCormick Designs, Inc. using the 2016 and 2015 data. Round percentages to one-tenth percent (three decimal places). 2. To an investor, how does 2016 compare with 2015? Explain your reasoning