Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Previous Year Current Year $ 3,900,000 2,355,600 $3,500,000 1.925,000 Sales Cost of goods sold Selling expenses Administrative expenses Income tax expense 460,200 553,000 608,400 441.000 210,500 196,000 A Prepare an income statement in comparative form stating each tom for both years as a percent of sales. Round your percentages answers to one decimal place. Enter all amounts as positive numbers Prepare an income statement in comparative form stating each mom for both years as a porcent of sales. Round your percentages answers to one docmal place. Enter amounts as positive numbers Innovation Quarter Inc. Comparative Income Statement For the Years Ended December 31 Current year Current year Amount Percent $5.900,000.00 Previous year Previous year > Amount Percent 3. Sales $3,500,000.00 1,925,000.00 2,355,600.00 . Cost of goods sold Gross profit $1.544,400.00 $1.575,000.00 $160,200.00 60R400.00 Selling expenses Administrative expenses Total operating expenses Income from operations Income tax expense 5553,000.00 441,000.00 $994.000.00 $1,068,600.00 $475,800.00 210,600.00 $581,000.00 196,000.00 11 Net Income $265,200.00 $385,000.00