eBook Calculator Vertical 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: oration nics Comparative Income Statement For Years Ended December 31, 20-2 and 20-1 Miller Elo 20-2 20-1 Net Sales (all on account) Cost of goods sold Gross profit Administrative expenses Selling expenses Total operating expenses $659,620 390,350 $269,270 $62,463 66,164 $128,627 $140,643 1,251 $139,392 31,402 $107,990 $426,520 255,980 $170,540 $41,252 44,059 $85,311 $85,229 1,158 $84,071 13,698 $70,373 Operating income Interest expense Income before income taxes Income tax expense Net income Miller Electronics Corporation Comparative Balance Sheet December 31, 20-2 and 20-1