2. Requirements 1. Prepare a horizontal analysis of the comparative income statement of Mulberry Designs, Inc. Round percentage changes to one decimal place. Why did 2016 net income increase by a higher percentage than net sales revenue? Years Ended December 31, 2016 and 2015 Increase (Decrease) 2016 2015 Amount Percentage $ 431,500 $ 371,000 % % Net Sales Revenue Expenses: Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses 200,250 97,450 5,000 189,350 94,000 3,000 % % 302,700 286,350 % $ 128,800 $ 84,650 Net Income % Data Table Mulberry Designs, Inc. Comparative Income Statement Years Ended December 31, 2016 and 2015 2016 2015 Net Sales Revenue $ 431,500 $ 371,000 Expenses: Cost of Goods Sold 200,250 189,350 Selling and Administrative Expenses 97,450 94,000 Other Expenses 5,000 3,000 Total Expenses 302,700 286,350 84,650 Net Income $ 128,800 $ Print Done