Revenue and expense data for Young Technologies Inc. are as follows: Year 2 Year 1 Sales $500,000 325,000 70,000 Cost of goods sold Selling expense Administrative expenses Income tax expense $440,000 242,000 79,200 70,400 75,000 10,500 16,400 Required: a. Prepare an income statement in comparative form, stating each item for both years as an amount and as a percent of sales. Round percentage amounts to nearest whole percent. Young Technologies Inc. Comparative Income Statement For the Years Ended December 31, Year 2 and Year 1 Year 2 Amount Year 2 Percent Year 1 Amount Year 1 Percent 96 % % 96 96 % Total expenses b. Comment on the significant changes disclosed by the comparative income statement The vertical analysis indicates that the cost of goods sold as a percent of sales administrative expense as a percentage of sales and income tax expense of sales between the two years. Selling and Overall net income as a percent