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Comparative information taken from the Tony Company income statement is shown below: Year 1 Year 2 Item Advertising expense 20,000.00 Operating income 6,000.00 (3,000,00) Net

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Comparative information taken from the Tony Company income statement is shown below: Year 1 Year 2 Item Advertising expense 20,000.00 Operating income 6,000.00 (3,000,00) Net income (7,000.00) 8,000.00 Other 4,000.00 Required: Using the above data from the income statement of Tony Company, perform horizontal analysis for the two-year period, using Year 1 as the base year

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