2 of 4 (1 complete) i Data Table - X Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 Net Sales Revenue $ 432,000 $ 372,000 201,000 Expenses: Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses 189,350 91,050 97,450 8,000 5,750 306,450 286,150 Net Income $ 125,550 $ 85,850 Print Done Activity Details Data for McCormick Designs, Inc. foliow Click the icon to view the data) Read the rements Requirement 1. Prepare a borzontal analysis of the comparative come toment of McCormick Designs Inc. Houd percentage changes to one complace and the percentage de decimal place XX. Use a minus sign or rentheses to indicate a ) McCormick Designs, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 Increase Decrease) 2016 2017 Amount Percentage Net Sales Revenue 422,000 372.000 Enter any number in the cat fields and then continue to the next question Reflectin e Portfolio Activity Details Task: View this topic 401M 11/2020 C Type here to search Data for McCormick Designs, Inc. follow: (Click the icon to view the data) Read the requirements Expenses: Cost of Goods Sold 201.000 189,350 Selling and Administrative Expenses 97.450 91,050 8,000 5,750 Other Expenses 306,450 286,150 Total Expenses 125,550 $ 85,850 Net Income Requirement 2. Why did 2018 net income increase by a higher percentage than net sales revenue? Net income increased by a higher percentage than total net sales revenue during 2018 because Enter any number in the edit fields and then continue to the next question. Reflect in ePortfolio