Year 2 Year 1 Sales Cost of goods sold $440,000 242,000 79,200 70,400 16,400 $500,000 325,000 70,000 75,000 10,500 Selling expenses Administrative expenses Income tax expense Required: a. Prepare an income statement in comparative form, stating each item for both years as an amount and as a percent of sales. Round norrentane amounts to nearest whole percent