Problem 4 The following information presents the operating results of Angelika Company for he year ended December 31, 2019 and 2018: Angelika Company Income Statement As of December 31, 2018 and 2019 (in thousands) 2019 2018 Sales P453,200 P504,000 Sales returns 13,200 24,000 Net sales 440,000 480,000 Cost of goods sold 242,000 360,000Gross profit Selling and general expenses 198,000 120,000 118,800 Operating income 96,000 79200 24,000 Other expenses 30,800 33,600 Income (loss) before income tax 48,400 (9,600) Income tax (refund) 14,520 (2,880) Net income (loss) P33,880 P(6,720) Required: a. Prepare a comparative income statement showing the peso changes and percentage changes for 2019 as compared with 2018. b. Prepare a comparative income statement sowing a percentage analysis of component revenue and expense items of net sales each year