Gresham Inc Vertical analysis of income statement

Vertical analysis of income statement

Revenue and expense data for Gresham Inc. for two recent years are as follows:

                                                                                              Current Year             Previous Year    

a.     Prepare an income statement in comparative form, stating each item for both years  as a percent of sales. Round to one decimal place.

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