s of I and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year $551,000 308,560 99,180 104,690 16,530 $501,000 255,510 100,200 85,170 25,050 Cost of goods sold Selling expenses Administrative expenses Income tax expense a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as positive numbers. Innovation Quarter Inc. Comparative Income Statement For the Years Ended December 31 ent C)% Sales ss51,000 $501,000 Cost of goods sold 308,560 255,510 99,180 100,200 ing expenses 104,6905.70 Administrative expenses 104,690 Next 2 more Check My Work uses remaining