a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for 2015 when compared with 20Y4. Round percentage answers to one decimal place. Cascade Images, Inc. Comparative Income Statement For the Years Ended December 31, 2045 and 2014 Incr (Decr) Incr (Decr) 20Y5 Amount 20Y4 Amount Amount Percent Sales $372,000 $300,000 $ % Cost of goods sold (330,200) (260,000) % Gross profit $41,800 $40,000 $ % > Selling expenses $(11,400) $(10,000) $ % Administrative expenses (10,980) (9,000) % Total operating expenses $(22,380) $(19,000) % Income before income tax $19,420 $21,000 % Income tax expense (7,800) (8,400) % Net income $11,620 $12,600 $ % b. All of the following statements regarding Cascade Images, Inc. are true except