lings ratio. (Round to one decimal place.) Exercises Obj. 2 A. Current year net Reven ue and expense data for Innovation Quarter Inc. for two recent years are as follows ncome: $360,000; 9% of sales Sales Cost of goods sold Selling expenses Administrative expenses Income tax expense 2.280,00053,600000 600,0001872000 520,000648000 240,000360.000 216,000 SHOW ME HOw e statement in comparative form, stating each item for both years as a in A. Prepare an income percent of sales. Round to the nearest whole percentage.) B. Comment on the significant changes disclosed by the com