What is the - Sales Current Year, Cost of Goods Sold Previous Year, Net Income Previous Year, Total Expenses Current Year, and Income from Operations Previous Year

EX 14-1 Vertical analysis of income statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: obj. 2 Current Year Previous Year 4,000,000 $3 Sales Cost of goods sold Selling expenses Administrative expenses Income tax expense 2,280,000 600,000 520,000 $3,600,000 1,872,000 648,000 240,000360,000 216,000 A. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. (Round to the nearest whole percentage.) B. Comment on the significant changes disclosed by the comparative income statement