14-13A (similar to) Prepare a horizontal analysis of the following comparative income statement of The Delight Group. EClick the icon to view the comparative income statement) Why did net income increase by a higher percentage than net sales revenue during 2017? Show Delight's horizontal analysis of net sales and expenses. (Round the percentages to the nearest hundredth percent.) The Delight Group Horizontal Analysis of Comparative Income Statements Years Ended December 31, 2017 and 2016 (amounts in thousands) Increase /(Decrease) 2017 2016 Amount Percent Sales revenues 426,411 S 371,600 % 166,600 180,761 Less: Cost of goods sold Gross profit 205,000 245,650 $ 95,000 100,130 Less: Operating expenses % Operating income 145,520 S 110,000 % 10,150 7,000 Less: Interest expense % Income before income taxes 135,370 S 103,000 % 38,185 28,000 Less Income tax expense 75,000 97,185 $ Net income % X Data Table The Delight Group Income Statement For the Years Ended December 31, 2017 and 2016 (amounts in thousands) 2017 2016 Sales revenues 426 411 180 761 371,600 166 600 Less Cost of goods sold Gross profit 245,650 S 205,000 95,000 100 130 Less Operating expenses Operating income 145,520 $ 110.000 7,000 Less Interest expense 10,150 Income before income taxes 135 370 S S 103 000 Less Income tax expense 38,185 28 000 97 185 $ 75 000 Net income Print Done Clear All