SUU 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 Current year Amount Current year Percent Previous year Amount Previous year Percent Sales $423,000 % $381,000 % Cost of goods sold 245,340 % 194,310 % % % Selling expenses 71,910 % % 76,200 64,770 Administrative expenses 76,140 % % % % % 9% % 12,690 % Income tax expense 19,050 % % inte while Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales Cost of goods sold Selling expenses Administrative expenses Income tax expense $423,000 245,340 71,910 76,140 12,690 $381,000 194,310 76,200 64,770 19,050 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