For 20Y2, Tri-Comic Company initiated a sales promotion campaign that included the expenditure of an additional $17,000 for advertising. At the end of the year, Lumi Neer, the president, is presented with the following condensed comparative income statement:

Tri-Comic Company Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1
	20Y2		20Y1
Sales	$591,000		$508,000
Cost of goods sold	307,320		284,480
Gross profit	$283,680		$223,520
Selling expenses	$112,290		$91,440
Administrative expenses	59,100		60,960
Total operating expenses	$171,390		$152,400
Income from operations	$112,290		$71,120
Other income	29,550		30,480
Income before income tax	$141,840		$101,600
Income tax expense	59,100		40,640
Net income	$82,740		$60,960

Required:

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

Tri-Comic Company
Comparative Income Statement
For the Years Ended December 31, 20Y2 and 20Y1
	20Y2 Amount	20Y2 Percent	20Y1 Amount	20Y1 Percent
Sales	$591,000	%	$508,000	%
Cost of goods sold	307,320	%	284,480	%
Gross profit	$283,680	%	$223,520	%
Selling expenses	112,290	%	91,440	%
Administrative expenses	59,100	%	60,960	%
Total operating expenses	$171,390	%	$152,400	%
Income from operations	$112,290	%	$71,120	%
Other income	29,550	%	30,480	%
Income before income tax	$141,840	%	$101,600	%
Income tax expense	59,100	%	40,640	%
Net income	$82,740	%	$60,960	%