1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y1 as the base year. Use the minus sign to indicate a decrease in the "Increase/(Decrease)" columns. If required, round percentages to one decimal place. Macklin Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 Sales Cost of goods sold 20Y1 $423,020 $370,000 (299,000) (230,000) Increase Increase/ (Decrease) (Decrease) Amount Percent % % Gross profit $124,020 $140,000 % % Selling expenses $(42,630) $(31,000) Administrative expenses (25,400) (20,000) % Total operating expenses Operating income Other revenue $(68,030) $(51,000) $55,990 $89,000 2,038 % % 1,600 % Income before income tax expense $58,028 $90,600 % Income tax expense (16,200) (27,200) % Net income $41,828 $63,400 % 2. Net income has rate than sales, causing the gross profit to from 20Y1 to 20Y2. Sales have ; however, the cost of goods sold has at a faster