Revenue and expense data for Jazz-Tech Communications Co. are as follows:

a. Prepare an income statement in comparative form, stating each item for both 2008 and 2007 as a percent of sales. Round to one decimal place.
b. Comment on the significant changes disclosed by the comparative incomestatement.

2008 2007 Sales Cost of goods sold Selling expenses Administrative expenses Income tax expense $750,000 60,00 312,000 126,000 84,000 30,000 450,000 120,000 105,000 37,500