Similar to Vertical analysis of income statement Revenue and expense data for Searle Technologies Ce are as follows: E 14-1 3 2018 2017 $900.000 5725.000 Cost of goods sold 550.000 U5.000 Seing expenses 117.000 110,000 Administrative spent 65250 Income tax expense 7.500 SILO a. Prepare an income statement in comparative form, stating each item for both 2009 and 2017 as a percent of sales. Round to one decimal place b.Comment on the changes dosed by the comparative incontrarmen. 2017 Amount Percent 2018 Amount Percent 900,000 -558,000 725,000 -435,000 Sales Cost of goods sold Selling expenses. Administrative expenses...... -117,000 -63.000 -116,000 65,250 Income tax expense. -76,500 58,000 Similar to Vertical analysis of income statement E 14-1 Revenue and expense data for Searle Technologies Co. are as follows: [ 20Y8 2047 Sales $900,000 $725,000 Cost of goods sold 558,000 435,000 Selling expenses 117,000 116.000 Administrative expenses 63,000 65.250 Income tax expense 76,500 58.000 a. Prepare an income statement in comparative form, stating each item for both 2048 and 2017 as a percent of sales. Round to one decimal place. b. Comment on the significant changes disclosed by the comparative income statement 2018 Amount Percent 2017 Amount Percent ***** Sales Cost of goods sold 900,000 -558,000 725,000 -435,000 Selling expenses Administrative expenses -117,000 -63,000 -116,000 -65,250 Income tax expense -76,500 -58,000