Comparative income statement 2019 426,000 McMahon Music Ltd. Comparative Income Statement For the Years Ended December 31, 2020, and 2019 2020 $ Total revenue 398,000 $ Expenses: Cost of goods sold 187,000 $ Selling and general expenses 94,500 Interest expense 1,500 Income tax expense 36,500 Total expenses 319,500 78,500 $ Net income $ 200,000 89,000 13,000 43,500 345,500 80,500 Prepare a comparative common-size income statement for McMahon Music Ltd., rounding percentages to one-tenth percent. (Click the icon to review data from the comparative income statement.) (Enter the percentage changes as a percent, rounded to one decimal place, X.X%.) McMahon Music Ltd. Comparative Common-Size Income Statement For the Years Ended December 31, 2020, and 2019 2020 % of total 2019 % of total % % % Total revenue Expenses: Cost of goods sold Selling and general expenses Interest expense Income tax expense Total expenses % % % % % % Net income % %