Revenue and expense data for Young Technologies Inc. are as follows: Year 2 Year 1 Sales $500,000 $440,000 Cost of goods sold 325,000 242,000 Selling expense 70,000 79,200 Administrative expenses 75,000 70,400 Income tax expense 10,500 16,400 Required: a.Prepare an income statement in comparative form, stating each item for both years as an amount and as a percent of sales. Round percentage amounts to nearest whole percent. Young Technologies Inc. Comparative Income Statement For the Years Ended December 31, Year 2 and Year 1 Year 2 Amount Year 2 Percent Year 1 Amount Year 1 Percent fill in the blank fill in the blank $fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank $fill in the blank fill in the blank $fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank Total expenses $fill in the blank fill in the blank $fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank 0b884b011fe8068_38 fill in the blank $fill in the blank fill in the blank $fill in the blank fill in the blank b.Comment on the significant changes disclosed by the comparative income statement.

Revenue and expense data for Young Technologies Inc. are as follows: Year 2 Year 1 Sales $500,000 $440,000 Cost of goods sold 325,000 242,000 Selling expense 70,000 79,200 Administrative expenses...

Revenue and expense data for Young Technologies Inc. are as follows:

	Year 2	Year 1
Sales	$500,000	$440,000
Cost of goods sold	325,000	242,000
Selling expense	70,000	79,200
Administrative expenses	75,000	70,400
Income tax expense	10,500	16,400

Required:

a.Prepare an income statement in comparative form, stating each item for both years as an amount and as a percent of sales. Round percentage amounts to nearest whole percent.

Young Technologies Inc.
Comparative Income Statement
For the Years Ended December 31, Year 2 and Year 1
	Year 2 Amount	Year 2 Percent	Year 1 Amount	Year 1 Percent
	fill in the blank	fill in the blank	$fill in the blank	fill in the blank
	fill in the blank	fill in the blank	fill in the blank	fill in the blank
	$fill in the blank	fill in the blank	$fill in the blank	fill in the blank
	fill in the blank	fill in the blank	fill in the blank	fill in the blank
	fill in the blank	fill in the blank	fill in the blank	fill in the blank
Total expenses	$fill in the blank	fill in the blank	$fill in the blank	fill in the blank
	fill in the blank	fill in the blank	fill in the blank	fill in the blank
	fill in the blank	fill in the blank	fill in the blank 0b884b011fe8068_38	fill in the blank
	$fill in the blank	fill in the blank	$fill in the blank	fill in the blank

b.Comment on the significant changes disclosed by the comparative income statement.

Jun 08, 2022

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Revenue and expense data for Young Technologies Inc. are as follows: Year 2 Year 1 Sales $500,000 $440,000 Cost of goods sold 325,000 242,000 Selling expense 70,000 79,200 Administrative expenses...

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