calculate the percentage change using horizontal analysis and evaluate the results

Problem 1 HORIZONTAL ANALYSIS. Smith Corporation provides the following comparative income statement: Smith Corporation Comparative Income Statement For the Years Ended December 31, 20X3 and 20X2 20X3 20X2 Sales Cost of goods sold Gross profit Operating expenses EBIT $570,000 200.000 $370,000 100,000 S270,000 $680,000 170.000 $510,000 210,000 $300,000 Requirement: Calculate the percentage change using horizontal analysis and evaluate the results