Question: Prepare a comparative income statement, with vertical analysis, stating each item for both 2017 and 2016 as a percent of sales. Round percentage values to

Prepare a comparative income statement, with vertical analysis, stating each item for both 2017 and 2016 as a percent of sales. Round percentage values to one decimal place and state as a whole number. Do not enter the percent sign. (For example, enter .9569 as "95.7"). Reuters Company Comparative Income Statement For Years Ended December 31, 2017 and 2016 2017 Amount 2017 Percent 2016 Amount 2016 Percent (% ) (% ) Net sales 750000 100 600000 100 Cost of goods sold 500000 66.7 375000 62.5 Gross profit 250000 33.3 225000 37.5 Selling S expenses 182250 24.3 154800 25.8 Administrati ve expenses 24750 3.3 18000 3

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