Revenue and expense data for Reuters Company are as follows:

	2017	2016
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

	Prepare a comparative income statement, with vertical analysis, stating each item for both 2017 and 2016 as a percent of sales.
	Comment upon significant changes disclosed by the comparative income statement.