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Vertical Analysis of Income Statement For 2012, Tn-Comic Company initiated a sales promotion campaign that included the expenditure of an additional $21,000 for advertising.

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Vertical Analysis of Income Statement For 2012, Tn-Comic Company initiated a sales promotion campaign that included the expenditure of an additional $21,000 for advertising. At the end of the year, the president, is presented with the following condensed comparative income statement Tri-Comic Company Comparative Income Statement For the Years Ended December 31, 2012 and 20Y1 2012 2011 Sales Cost of goods sold $762,000 $655,000 403,860 386,450 Gross profit Selling expenses Administrative expenses Total operating expenses $358,140 $268,550 $152,400 $124,450 83,820 $236,220 85,150 $209,600 Income from operations $121,920 $58,950 Other income 38,100 39,300 Income before income tax $160,020 $98,250 60,960 39,300 Income tax expense $99,060 $56,950 Net income Required: triationship to sales for each of the years. Enter percentages as whole

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