E17-16 Preparing common-size income statements Data for Mulberry Designs, Inc. follow: 2017 MULBERRY DESIGNS, INC. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 Net Sales Revenue $ 431,000 $372,350 Expenses: Cost of Goods Sold 203,850 186,000 Selling and Administrative Expenses 99,000 93,250 Other Expenses 9,000 4,650 Total Expenses 311,850 283,900 Net Income $ 119,150 $ 88,450 Refer to the data presented for Mulberry Designs, Inc. Requirements 1. Prepare a comparative common-size income statement for Mulberry Designs, Inc. using the 2018 and 2017 data. Round percentages to one-tenth percent (three decimal places). 2. To an investor, how does 2018 compare with 2017? Explain your reasoning