40.

Use the following selected income statement data to perform a horizontal analysis for 2019. List each answer as a percentage, round to 1 decimal place, and include a - for any decreases (.e., a decrease of 10% would be entered as -1096). 2019 2018 Horizontal analysis Net sales 16,000 12,000 Cost of Goods Sold 8,600 6,800 Interest expense 200 290 Income from operations 3,400 2,000 Net income 2,800 1,700