Question: Revenue and expense data for Rogan Technologies Co. are as follows: (a) Prepare an income statement in comparative form, stating each item for both 2010

Revenue and expense data for Rogan Technologies Co. are as follows:

(a) Prepare an income statement in comparative form, stating each item for both 2010 and 2009 as a percent of sales. Round to one decimal place.(b) Comment on the significant changes disclosed by the comparative incomestatement.

2010 2009 Sales Cost of goods sold Selling expenses Administrative expenses Income tax expense $500,000 $440,000 79,200 70,400 70,000 75,000 25,000 26,400

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