Prepare a comparative common-size income statement for Chammad Coporation. To an investor, how does the curent year compare with the prior year? Explain your reasoning (Click the icon to view the comparative income statement) Start by calculating the percentages (Round the percentages to be decimal places, XXX) Charmed Corporation Comparative Common-Size Income Statement For the Years Ended December 31 Current Sales revenues 100.00% Prior year 100.00% Less: Cost of goods sold Gross profit Less Operating expenses Operating income Less: Interest expense Income before income taxes Less: Income tax expense Net income Now you are ready to compare the two years An investor would be with the curent year in comparison with the prior year. Net sales and net income are both percentages of total revenues in the current year, and net income represents significanty from the prior year. Cost of goods sold and operating expenses-the two large expe percentage of revenues Overit, profits are