Vertical analysis of income statement For 20Y2, Fielder Industries Inc. initiated a sales promotion campaign that included the expenditure of an additional $40,000 for advertising. At the end of the year, Leif Grando, the president, is presented with the following condensed comparative income statement: boxes in which you must enter subtracted or negative numbers use a minus sign. 2. The net income as a percent of sales has relationship between 20Y1 and 20Y2. Selling expenses as a percent of sales, however, have successful. The increased expense . All the costs and expenses, other than selling expenses, have maintained their approximate cost as a percent of sales . Apparently, the new advertising campaign been produced sufficient sales to maintain relative profitability. Thus, selling expenses as a percent of sales have