Prepare a comparative common-size income statement for Sunny Day Corporation. To an investor, how does the current year compare with the prior year? Explain your reasoning (Click the icon to view the comparative income statement.) www Start by calculating the percentages. (Round the percentages to two decimal places, X.XX.) Sunny Day Corporation Comparative Common-Size Income Statement For the Years Ended December 31 Current year Prior year Sales revenues 100.00% 100.00% Less: Cost of goods sold % Gross profit % % Less: Operating expenses % % Operating income % Less: Interest expense Income before income taxes % % Less: Income tax expense Net income Now you are ready to compare the two years. An investor would be with the current year in comparison with the prior year. Net sales and net income are both year. Cost of goods sold and operating expenses-the two largest expenses-consumed represents a percentage significantly from the prior percentages of total revenues in the current year, and net income Data table 1 B C Sunny Day Corporation 2 3 4 5 Income Statement For the Years Ended December 31 6 Sales revenues 7 Less: Cost of goods sold 8 Gross profit 9 Less: Operating expenses 10 Operating income 11 Less: Interest expense 12 Income before income taxes 13 Less: Income tax expense 14 Net income (amounts in thousands) Current year Prior year $ 426.411 $371,600 180,761 166,600 $ 245.650 $205,000 $ 100.250 95,020 145,400 $ 109,980 10,150 7,025 $ 135,250 $ 102,955 38,210 29,990 $ 97,040 $ 72.965 X