3. EX 14-1 Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Vertical analysis of income statement Objective 2 Previous Year $3,600,000 1,872,000 648,000 360,000 216,000 Current Year $4,000,000 Sales Cost of goods sold Selling expenses Administrative expenses Income tax expense 2,280,000 600,000 520,000 240,000 A. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. (Round to the nearest whole percentage.) B. Comment on the significant changes disclosed by the comparnive income statement. + Upload File No files uploaded for this question 5:33 PM pe here to search F7 F8 F9 F4 F5