For 2012, Tri-Comic Company initiated a sales promotion campaign that included the expenditure of an additional $50,000 for advertising At the end of the year condensed comparative Income statement: Tri-Comic Company Comparative Income Statement For the Years Ended December 31, 2012 and 20Y1 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses 2012 2011 $1,500,000 $1,250,000 (510,000) (475,000) $990,000 $775,000 $(270,000) $(200,000) (180,000) (156,250) Total operating expenses $(450,000) $(356,250) Operating income. $540,000 $418,750 Other revenue 60,000 50,000 Income before income tax expense $600,000 $468,750 Income tax expense (450,000) (375,000) Net income $150,000 $93,750 1. Prepare a comparative income statement for the two-year period, presenting an analysis of each item in relationship to sales for must enter subtracted or negative numbers use a minus sign. Tri-Comic Company Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 Line Item Description Sales Cost of goods sold 2012 Amount Percent 2012 20Y1 Amount 2011 Percent % % % Gross profit % Selling expenses % % Administrative expenses % % Total operating expenses Operating income % % % % Other revenue % $ % Income before income tax expense years. Round per Selling expense Adrenatrative expenses total operating expenses Operating income Other revenue Income before income tax expense Income tax expense Net income K2009) (1,000) $450.000) $540,000 $414,750 60.000 1. Prepare a comparative income statamant for the year period w must enter subtracted or negative numbers use a minus sig Tri-Camic Company I Comparative Income Statement For the Years Ended December 31, 3093 Amount Percent Amount Parent Line Item Description Sales Cost of goods sold Gre Selling expenses Admins/ative expenses Tutal operating p Operating income Gerreshe become before income tax spes 3. The stem the deta permit, comment on the soficant reinings read by the vertical analyse pred (1) The vertical analyses that the co other than ang eperes it of goes on and admative agens)