Case 2 Horizontal Analysis of Income (in thousands except per share amounts) Three fiscal years ended December 31 Sales 2023 2022 2021 $10,0322 $7,976,954 $7,161,542 Costs and expenses Cost of goods sold $6,844,915 $5,107,113 $3,978,989 Research and development 592,001 664,564 612,135 Selling, general, and administrative 1,550,857 1,617,770 Restructuring costs and other (126,855) 330.956 50,000 $8,694,172 $7,643,390 $4,258,894 Operating income $1.394,150 $333,564 1902,648 Interest and other income, net 121,988) 29,321 64,634 Income before income tax $1,372,162 -3362,885 1967,282 Provision for income tax 381,525 50,104 Net income $990,437 $312,781 275,430 5691,852 Earnings per common and common equivalent share 13:43 $1.18 $2.68 Common and common equivalent shares used 288,740 264,985 258,130 in the calculations of earings per share This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answer in the question below. CO Open spreadsheet Required: Prepare common size income statements for horizontal analysis. Enter your answers in percentage terms, rounded to two decimal places, and do not include the "%" sign with your answer. For example, "100.00" or "28.72". For those boxes in which underlying dollar amount is shown as negative, use a minus sign. You do not need to include the actual dollar amounts shown above. Cooper Manufacturing Consolidated Income Statements Sales Costs and expenses: Cost of goods sold Research and development 2023 2022 2021 100% 100 % 100 67.85 X% 64.02 % 67.85 x% 5.87 Selling, general, and administrative Restructuring costs and other 13.72 x% -1.26% 86.18% 19.44 X 4.03 X% 95.82% 4.18 X% Operating income Interest and other income, -0.22% 0.37 % Income before income taxes 13.60% 4.55 Provision for income taxes 3.78% 0.63 Net income 9.82 X 3.92% Earnings per common and commen equivalent share x%