Revenue and expense data for Bluestem Company are as follows:

Year 2 Year 1 Administrative expenses$ 37,000$ 20,000Cost of goods sold350,000320,000Income tax 40,00032,000Sales800,000700,000Selling expenses150,000110,000

(a)Prepare a comparative income statement, with vertical analysis, stating each item for both years as a percent of sales.(b)Comment on significant changes disclosed by the comparative income statement.

Round percentages to one decimal place.