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5. The following is summary of information presented on the financial statements of a company on December 31, 2015. Account 2015 2014 Net Sales Revenue

5. The following is summary of information presented on the financial statements of a company on December 31, 2015. Account 2015 2014 Net Sales Revenue $800,000 $700,000 Cost of Goods Sold 450,000 400,000 Gross Profit $150,000 $100,000 Selling Expenses 50,000 50,000 Net income before income tax expense $100,000 $50,000 Income tax expense 35,000 18,000 Net Income $265,000 $232,000 What would a horizontal analysis report show with respect to net income?

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