a table Wellington, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 Revenue $ 500,000 $ 421,800 230,000 Expenses Cost of goods sold Selling and general expenses Interest expense 105,500 250,000 109,000 8,000 50 400 4.800 45,000 Income tax expense Total expenses 417.400 385,300 Net income $ 82,600 S 36,500 Print Done - puirement 1. Prepare a horizontal analysis of the comparative income statement of Wellington, Wellington, Inc. Horizontal Analysis of Comparative Income Statement Years Ended December 31, 2018 and 2017 Increase (Decrease) 2018 2017 Amount Percentage Revenue $ 500,000 $ 421,800 % Expenses Cost of goods sold 250,000 230,000 % Selling and general expenses 109,000 105,500 % Interest expense 8,000 4,800 % income tax expense 50 400 45,000 % Total expenses 417 400 385,300 % Net income $ 82,600 $ 36,500 % Requirement 2. Why did net income increase by a higher percentage than total revenues increased duri Net income increased by a higher percentage than total revenues during 2018 because ngton, Inc. Round percenta quirements . Prepare a horizontal analysis of the comparative income statement of Wellington, Inc. Round percentage changes to the nearest tenth of a perce 2. Why did net income increase by a higher percentage than total revenues increased during 2018? Print Done % Net income % venues increased during 2018? Print cause increased at 24