Tri-Comic Company Comparative Income Statement For the Years Ended December 31, 2012 and 2041 2012 2011 Sales $765,000 359.550 $653,000 342,160 Cost of merchandise sold Gross profit $315,840 5405,450 $145,350 $110,440 Selling expenses 76,500 78,960 Administrative expenses $197.400 Total operating expenses Income from operations $221,850 $183,600 Other revenue Income before income tax expense 45,900 $229,500 91,800 $113,440 32,900 $151,340 59,220 192.120 Income tax expense Net Income $137,700 Required: 1. Prepare a comparative Income statement for the two-year period, presenting an analysis of each item in relationship to ales for each of the Wan Enter percentages as whole numbers. Enter all amounts as positive numbers Tri-Comic Company Comparative Income Statement For the Years Ended December 31, 2012 and 2041 2012 2012 2011 2011 Amount Percent Amount Percent Sales $765,000 $650,000 Cost of merchandise sold 359,550 342,160 Gross profit $405,450 $315,840 Selling expenses $145,350 $118.440 Administrative expenses 76,500 78,960 Total operating expenses $221,850 56 $197.400 Income from operations $183.600 55 $118.440 Other revenue 45,900 32.900 Income before income tax expense $229,500 5151,340 ** 91,800 24 59,220 Income taxDelise $137,700 Net Income 592,120