1. Prepare horizontal analysis of the comparitive income statement of McCormick Designs inc. (Please fill in blanks on Income Statment)

2. Why did 2018 net income increase by a higher percentage than net sakes revenue?

Data for McCormick Designs, Int. follaw (Click the icon to view the data) Read the requirements Requirement 1. Pre are a hor zontal ana yss o he comparative income statement o McCormick as gns Inc Round percentage changes to one dec mal place Round he percentages one decima lace, X X% U a minus sign or parentheses o cate a decrease.) McConmick Designs, Inc Comparative Income Statement Years Ended December 31, 2018 and 2017 Data Table Requirements McCormick Designs, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 Amount Percentage 1. Prepare a horizontal analysis of the comparative income statement of Net Sales Revenue S 428,000 S 373,450 McCormick Designs, Ine. Round percentage changes to one decimal place 2. Why did 2018 net income increase by a higher percentage than net sales 2018 2017 Expenses revenue? Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses 188,000 92,750 2,150 282,900 S 117,500 S 90,550 205,000 97,000 8,500 310,500 Net Sales Revenue 5 428,0OO$ 373 450 Expenses PrintDone Cast of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses 05,000 188,ODO 92,750 2,150 310,500 2,900 117,500 $ 90,550 97,000 6,500 Net Income Net Income Print Done