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 96 % Mitchell Music Co. Comparative Income Statements Years Ended December 31, 2018 and 2017 2018 2017 $ 1,080,000 $ 919,000 Total revenue Expenses: Cost of goods sold Selling and general expenses Interest expense $ 479,000 $ 400.450 289,000 262,000 24,500 106,500 14,500 86,850 Income tax expense Total expenses 899,000 763,800 Net income $ 181,000 $ 155,200