Annie's Homemade provided the following data for this year: $ 225,000 $ 75,000 $ 150,000 Expenses Net operating income Average operating assets Required: Calculate the turnover for this year. Answer is complete but not entirely correct. 0.5 X Turnover

Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows:                                                          Current Year              Previous YearSales                                                   $4,000,000                $3,600,000Cost of goods sold                              2,280,000                   1,872,000Selling expenses                                  600,000                      648,000Administrative expenses                      520,000                       360,000Income tax expense                             240,000                       216,000a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. Round to the nearest whole percentage.b. Comment on the significant changes disclosed by the comparative income statement.

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C