(Please answer both questions, I will make sure to thumbs up the response, THANK YOU)

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 $402,000 $346,000 Cost of goods sold 249,240 197,220 Selling expenses 60,300 58,820 Administrative expenses 68,340 55,360 Income tax expense 8,040 13,840 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 Previous year Amount Previous year Percent $402,000 % $346,000 % Sales Cost of goods sold 249,240 % 197,220 % % % Selling expenses 60,300 % 58,820 % Administrative expenses 68,340 % 55,360 % % % % % Income tax expense 8,040 % 13,840 % % % Vertical Analysis of Balance Sheet Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follows: Current Year Previous Year Current assets $327,300 $179,960 632,780 564,420 Property, plant, and equipment Intangible assets 130,920 73,620 Current liabilities 229,110 114,520 Long-term liabilities 414,580 327,200 Common stock 98,190 98,160 Retained earnings 349,120 278,120 Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. If required, round percentages to one decimal place. Alvaraz Company Comparative Balance Sheet For the Years Ended December 31 Current year Amount Current year Percent Previous year Amount Previous year Percent Current assets $327,300 % $179,960 % 632,780 % 564,420 % Property, plant, and equipment Intangible assets 130,920 % 73,620 % Total assets $1,091,000 $818,000 % Current liabilities $229,110 % $114,520 % Long-term liabilities 414,580 % 327,200 % Common stock 98,190 % 98,160 % Retained earnings 349,120 % 278,120 % Total liabilities and stockholders' equity $1,091,000 % $818,000 %