Vertical Analysis of Income Statement For 20Y2, Tri-Comic Company initiated a sales promotion campaign that included the expenditure of an additional $50,000 for advertising. At the end of the year, Lumi Neer, the president, is presented with the following condensed comparative income statement: 1. Prepare a comparative income statement for the two-year period, presenting an analysis o each item in relationship to sales for each of the years. Round percentages to one decimal place. Enter all amounts as positive numbers. 2. The vertical analysis indicates that the costs other than selling expenses (cost of merchandise sold and administrative expenses) as a percentage of sales. As a result, net income as a percentage of sales The sales promotion campaign appears to have been a percent of sales slightly, the While selling expenses as than made up for by cost was more sales. Vertical Analysis of Income Statement For 20Y2, Tri-Comic Company initiated a sales promotion campaign that included the expenditure of an additional $50,000 for advertising. At the end of the year, Lumi Neer, the president, is presented with the following condensed comparative income statement: 1. Prepare a comparative income statement for the two-year period, presenting an analysis o each item in relationship to sales for each of the years. Round percentages to one decimal place. Enter all amounts as positive numbers. 2. The vertical analysis indicates that the costs other than selling expenses (cost of merchandise sold and administrative expenses) as a percentage of sales. As a result, net income as a percentage of sales The sales promotion campaign appears to have been a percent of sales slightly, the While selling expenses as than made up for by cost was more sales