7.(10 points) Prepare a horizontal analysis of the Income Statement for the most current year. SPROUTS FARMERS MARKET, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) Year Ended December 30, December 31, January 1, 2018 (1) 2017 (1) 2017 (1) Net sales $ 5,207,336 $4,664,612 $4,046,385 Cost of sales 3,459,861 3,097,582 2,682,937 Gross profit 1,747,475 1,567,030 1,363,448 Selling, general and administrative expenses 1,404,443 1,245,640 1,071,995 Depreciation and amortization (exclusive of depreciation included in cost of sales) 108,045 94,194 78,293 Store closure and other costs 12,076 1,126 228 Income from operations 222,911 226,070 212,932 Interest expense (27,435) (21,177) (14,794) Other income 320 625 454 Income before income taxes 195,796 205,518 198,592 Income tax provision (37,260) (47,078) (74,286) Net income $ 158,536 $ 158,440 $ 124,306 Net income per share: Basic $ 1.23 $ 1.17 $ 0.84 Diluted 1.22 $ 1.15 $ 0.83 Weighted average shares outstanding: Basic 128,827 135,169 147,311 Diluted 129,776 137,884 149,653 (1) Effective in the fourth quarter of fiscal 2018, the Company made a change in accounting principle to change the classification of certain expenses on its consolidated statements of income. The change is applied retrospectively to all periods presented. See Note 3, "Significant Accounting Policies" for further information