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The comparative Income statement of Norman Music Co. for the years ended December 31, 2018 and 2017 is as follows: Click the icon to view

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The comparative Income statement of Norman Music Co. for the years ended December 31, 2018 and 2017 is as follows: Click the icon to view the comparative income statement.) Requirement 1. Prepare a comparative common-size income statement for Norman Music Co. (Round your answers to one-hundredth of a percent, X.XX%) Norman Music Co. Comparative Common-Size Income Statements Years Ended December 31, 2018 and 2017 2018 2017 Total revenue % % % Expenses: Cost of goods sold Selling and general expenses Interest expense % % % % % Income tax expense % % Total expenses % % Net income % % C Data table Norman Music Co. Comparative Income Statements Years Ended December 31, 2018 and 2017 2018 2017 Total revenue $ 1,080,000 $ 919,000 400,450 Expenses: Cost of goods sold Selling and general expenses Interest expense $ 479,000 $ 289,000 260,000 24,500 106,500 14,500 86,850 Income tax expense Total expenses 899,000 761,800 181,000 $ 157,200 Net income

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