Question 10.3 1. Use the following data to prepare a common-size comparative income statement for Old Mill Corporation on December 31, 2016. Round percentages to one-tenth percent. 2016 $1,510,000 2015 $1,350,000 Net sales Expenses: Cost of goods sold Selling and general expenses Interest expense Income tax expense Total expenses Net income $980,000 290,000 59,0000 71,000 $1,400,000 $110,000 $860,000 230,000 59,000 53,000 $1,202,000 $148,000