Year 1 Year 2 $37,000 350,000 40,000 800,000 150,000 $20,000 Cost of goods sold tncome tax 32,000 700,000 110,000 Selling expenses each item fer both years as a percent of sales. Round percents to one decimal point Comparative Income Statement Year 2 Amount Year 2 Percent Year 1 Amount Year 1 Percent Total operating expenses Next a. Prepare a comparative income statement, with vertical analysis, stating each item for both years as a percent of sales. Round percents to one decimal point ( Total operating expenses - b. Comment upon significant changes disclosed by the comparative income statement. There was offset the However, in selling expenses in the cost of goods sold, and in cost of goods sold and contributed greatly to the in net income. 11000000000, 0000000001