Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales$598,000 $526,000 Cost of goods sold328,900 263,000 Selling expenses107,640 105,200 Administrative expenses113,620 94,680 Income tax expense17,940 26,300 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 AmountCurrent year PercentPrevious year AmountPrevious year Percent Sales$598,000 %$526,000 % Cost of goods sold328,900 %263,000 % $ %$ % Selling expenses107,640 %105,200 % Administrative expenses113,620 %94,680 % $ %$ % % % Income tax expense17,940 %26,300 % $ %$ %