Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales $495,000 $436,000 Cost of goods sold 267,300 213,640 89,100 87,200 Selling expenses Administrative expenses Income tax expense 99,000 82,840 14,850 21,800 a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as positive numbers. Innovation Quarter Inc. Comparative Income Statement For the Years Ended December 31 Current year Current year Previous Previous year Amount Percent year Amount Percent Sales $495,000 % $436,000 % 267,300 % 213,640 % Cost of goods sold Gross profit % % Selling expenses 89,100 % 87,200 % Federal Income Tax Withholding Bob Wolfe's weekly gross earnings for the present week were $2,220. Wolfe has four exemptions. Using the wage bracket withholding table in Exhibit 2 with a $75 standard withholding allowance for each exemption, what is Wolfe's federal income tax withholding? Round your answer to two decimal places