Vertical Analysis of Income Statement For 2012, Tri-Comic Company initiated a sales promotion campaign that included the expenditure of an additional $14,000 for advertising. At the end of the year, Lumi Neer, the president, is presented with the following condensed comparative income statement: Tri-Comic Company Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 2012 20Y1 Sales $499,000 $429,000 Cost of goods sold 254,490 244,530 Gross profit Selling expenses Administrative expenses Total operating expenses $244,510 $184,470 $94,810 $77,220 49,900 51,480 $144,710 $128,700 Income from operations $99,800 $55,770 14,970 21,450 Other revenue Income before income tax $114,770 $77,220 44,910 30,030 Income tax expense $69,860 $47,190 Net income