Vertical Analysis of Comparative Financial Statements Amounts from the comparative income statement and balance sheet of Miller Electronics Corporation for the last two years are as follows: Miller Electronics Corporation Comparative Income Statement For Years Ended December 31, 20-2 and 20-1 20-2 20-1 Net Sales (all on account) $662,800 392,800 $270,000 $61,831 65,519 $127,350 $142,650 1,308 $141,342 30,655 $110,687 $423,200 258,500 $164,700 $41,040 44,003 $85,043 $79,657 1,227 $78,430 14,199 $64,231 Cost of goods sold Gross profit Administrative expenses Selling expenses otal operating expenses Operating income Interest expense Income before income taxes Income tax expense Net income Miller Electronics Corporation Comparative Balance Sheet