Below is the move income statement of Micatie em click the lo view the corpulve income) Read the requirements Requirement 1. Prepare a horizontal analysis of the companive comment of cat, Foundertage of a perXXX.more Micatinine Hortzontal Analysis of Comparative Income Statement Younded December 31, 2018 and 2017 Increase (Decreased 2018 2017 Amount Percentage Revenge 100,000 Expenses Cost of goods add 200.000 236,500 Selling and generales 20.800 119,000 neste pense 4,500 4,000 40,000 30.700 income tax expense Tocal expenses 1,900 200.000 5 68.100 158,00 Net income Requirement 2. Why did not income increase by a higher percentage that revenues need during 2018? Net income increased by a higher prevlage than total revenues during 2018 because or higher Micatin, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 Revenue $ 490,000 $ 458,800 Expenses: Cost of goods sold Selling and general expenses 250,000 236,500 119,800 4,000 39,700 120,800 4,500 46,600 Interest expense Income tax expense Total expenses 421,900 400,000 $ $ 68,100 $ 58,800 Net income