Complete the following horizontal analyses of Hummingbird Corporation's income statement. What was the largest percentage increase in expenses? What was the largest percentage decrease in expenses? What would explain the changes? (Click the icon to view the income statements.) Begin by completing the horizontal analyses of Hummingbird Corporation's income statement. (Round percentages to the nearest tenth of a percent, XX%. Use a minus sign or parentheses for a loss or to show a decrease in any of the accounts.) (in millions) 2016 2015 Change Percent Change Sales $ 75,533 $ 73,333 36,079 Cost of Goods Sold 32,979 47.8 Gross Profit 39,454 40,354 Selling, General, and Administrative Expenses 14.337 14,857 Research and Development Expense 7,271 8,061 445 435 Interest Expense Earnings Before Provision for Taxes Provision for Taxes Net Income 17,401 17,001 2,999 2.923 $ 14,402 $ 14,078 What would explain the changes? (Enter percentages to the nearest tenth of a What was the largest percentage increase in expenses? What was the largest percentage decrease in expenses? What would explain the changes? (Enter percentages to the nearest tenth of a percent, XX%) From the change and percent change in each line item, we observe that cost of goods sold % Because the change in sales is by We also observe declines in % Sales than the change in cost of goods sold, gross profit has the largest percentage increase in expenses. The largest percentage decrease in expenses was in