eBook Calculator Horizontal Analysis of Comparative Financial Statements Amounts from the comparative income statement and balance sheet of Miller Electronics Corporation for the last two years are as follows: Miller Electronics Corporation Comparatlve Income Statement For Years Ended December 31, 20-2 and 20-1 20-2 20-1 Net Sales (all on account) Cost of goods sold Gross profit Administrative expenses Selling expenses $660,010 395,540 $264,470 $65,706 $132,110 $132,360 1,274 $131,086 30,336 $100,750 $429,310 257,150 $172,160 $43,013 44,127 $87,140 $85,020 1,191 $83,829 13,059 $70,770