Comparative Income statements for Pearle Company are provided below: Required: Perform a horizontal analysis of Pearle Company's Income statement by computing horizontal percentages for each item. Note: Enter all the values as positive values. Round your answers to one decimal place (l.e. 22.5%). Sales Less cost of goods sold Gross margin Less operating expenses Income before taxes Income taxes Net income Pearle Company Comparative Income Statement Years Ended December 31, 3 Year 2 629,500 $ 409,175 220,325 118,950 101,375 49,940 $ 51,435 $ Year 1 562,000 376,540 185,460 107,770 77,690 37,912 39,778 Percentage Change %6 % % 96 % 96 %

Comparative income statements for Pearle Company are provided below: Required: Perform a horizontal analysis of Pearle Company's income statement by computing horizontal percentages for each item Note: Enter all the values as positive values. Round your answers to one decimal ploce (i.e. 225%