For 20Y2, Fielder Industries Inc. initiated a sales promotion campaign that included the expenditure of an additional $40,000 for advertising. At the end of the year, Leif Grando, the president, is presented with the following condensed comparative income statement:

Fielder Industries Inc.

Comparative Income Statement

For the Years Ended December 31, 20Y2 and 20Y1

20Y2 20Y1

Sales $1,300,000 $1,180,000

Cost of goods sold $682,500 $613,600

Gross profit $617,500 $566,400

Selling expenses $260,000 $188,800

Administrative expenses $169,000 $177,000

Total operating expenses $429,000 $365,800

Income from operations $188,500 $200,600

Other revenue $78,000 $70,800

Income before income tax $266,500 $271,400

Income tax expense $117,000 $106,200

Net income $149,500 $165,200

1. a comparative income statement for the two-year period, presenting an analysis of each item in relationship to sales for each of the years. Round to one decimal place. Enter all amounts as positive numbers.

Fielder Industries Inc.Comparative Income StatementFor the Years Ended December 31, 20Y2 and 20Y1

20Y2 Amount 20Y2 Percent. 20Y1 Amount. 20Y1Percent

Sales $1,300,000 % $1,180,000 %

Cost of goods sold $682,500 % $613,600 %

Gross profit $617,500 % $566,400 %

Selling expenses $260,000 % $188,800 %

Administrative expenses $169,000 % $177,000 %

Total operating expenses. $429,000 % $365,800 %

Income from operations $188,500 % $200,600 %

Other revenue $78,000 % $70,800 %

Income before income tax. $266,500 % $271,400 %

Income tax expense $117,000 % $106,200 %

Net income $149,500 % $165,200 %