Question: Using the following revenue and expense data, prepare a comparative income statement, expressing each item for both 2013 and 2012 as a percentage of net

Using the following revenue and expense data, prepare a comparative income statement, expressing each item for both 2013 and 2012 as a percentage of net sales (vertical analysis). Round to three decimalplaces.

Item 2012 650,000 468,145 38,000 26,500 44,340 2013 Net Sales Cost of Goods Sold Selling Expenses General Expenses Income Tax Expense $903,000 501,000 90,500 21,850 48,125

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