Question 2, E12-32B (book/static) > HW Score: 0%, 0 of 20 points Points: 0 of 10 Save = Homework: Chapter 12 - Apply your knowledge The comparative income statement of Monroe Music Co. for the years ended December 31, 2021 and 2020 is as follows: (Click the icon to view the comparative income statement.) Requirement 1. Data table Prepare a comparative common-size income statement for Monroe Music Co. (Round your answer Monroe Music Co. Comparative Common-Size Income Statements Years Ended December 31, 2021 and 2020 Monroe Music Co. Comparative Income Statements Years Ended December 31, 2021 and 2020 2021 2020 $ 844,000 $ 934,000 Total revenue Total revenue 2021 2020 % % Expenses: Cost of goods sold $ 404,000 $ 400,000 Expenses: Selling and general expenses 234,000 270,000 Cost of goods sold % % Interest expense 9,300 12,000 Selling and general expenses % % 84,000 86,000 Income tax expense Interest expense % % Total expenses 731,300 768,000 Income tax expense % % $ 112,700 $ 166,000 Net income Total expenses % % Net income % % Print Done - X Clear all Check answer