HELP ASAP IN A RUSH ACCOUNTING

Comparative Income Statement For the Years Ended December 31 Current year Amount Current year Percent Previous year Amount Previous year Percent $523,000 245,810 $575,000 Sales 310,500 Cost of goods sold Selling expenses 109,830 103,500 99,370 Administrative expenses 115,000 Income tax expse 17250 26,150 by 7 percentage points, while selling expenses b. The vertical analysis indicates that the cost of goods sold as a percent of sales by 3 percentage points, and administrative expenses percentage points. by 1 percentage points. Thus, net income as a percent of sales Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year $575,000 310,500 103,500 115,000 17,250 $523,000 245,810 109,830 99,370 26,150 Cost of goods sold Selling expenses Administrative expenses Income tax expense a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as positive numbers. Innovation Quarter Inc. Comparative Income Statement For the Years Ended December 31 Current year Amount Current year Percent Previous year Amount Previous year Percent $523,000 245,810 Sales $575,000 310,500 Cost of goods sold 109,830 Selling expenses 103,500 Administrative expenses115,000 99,370 Income tax expense 17,250 26,150