QUESTION 2) (35 pts) Income statements for 2019 and 2020 of ABC Inc. are given below: a) Express the income statement information in common size percent for both 2019 and 2020. (20 pts) - Show calculations. Use two digits after the decimal point. If you do not show your calculations, you will not gain any point from this question. a) Assess whether this company's situation is favorable or unfavorable. (15 pts, min. 75 words) Sales Cost of goods sold (-) Gross profit Operating expenses (-) Operating profit Rent revenue Interest expense (-) Gain on sales of an old machine Net income 2020 2019 143,500 170,000 65,400 58,600 78,100 111,400 8,460 24,000 69,640 87,400 1,500 1,500 4,000 5,600 1,500 3,000 68,640 86,300