Revenue and expense data for Reuters Company are as follows: 2011 2010 Administrative expenses $ 24,750 $ 18,000 Cost of goods sold 500,000 375,000 Income tax 11,600 12,000 Net sales 750,000 600,000 Selling expenses 182,250 154,800 (a) Prepare a comparative income statement, with vertical analysis, stating each item for both 2011 and 2010 as a percent of sales. (b) Comment upon significant changes disclosed by the comparative income statement