I just need the answer to the 2 boxes with the red 'X'. please post so that answer isn't half cut off. thanks!

Question Content Area Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales $556,000 $195,000 Cont of merchandise sold 311,360 252,450 Selling expenses 100,000 99,000 Administrative expenses 105,640 14,150 Income tax expense 16,600 24,750 Question Content Area a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as positive numbers Innovation Quarter Inc. Comparative Income Statement For the Years Ended December 31 Current year Amount Current year Percent $556,000 100 % 311,360 56 % Sales Cost of merchandise sold Previous year Amount Previous year Percent $495,000 100 252,450 S1 % 242.550 49 % 244,640 44 100,000 S8 X % 99,000 20 105,640 30 X 84,150 17 Gross profit Selling expenses Administrative expenses Total operating expenses Income from operations Income tax expervise 205.720 37 183.150 38.920 59400 12 7 % 3 % 16,680 24,750 5 Net income 22.240 + 34.650 2 Cath AS