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Verticat Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: a. Prepare an income stiyement in comparative form, stating each item for both years as a percent of sales. If required, round percentages to one decimal place. Enter amounts as positive numbers. a. Prepare an income stakement in comporative form, stating each item for both years as a percent of sales. If required, found percentages to one decimal place. Enter all amounts as positive numbers. b. The vertical analya/s indicates that the cost of merchandise sold as a percent of sales. by 7 percentage points, while seling expenses by 3 percentage points, and administrative expenses Ey 1 oercentage ocints, Thus, net inkome as a percent of sales by 3 percentage points