Data for Mill Designs, Inc. follow: (Click the icon to view the data.) Read the requirements. Requirement 1. Prepare a horizontal analysis of the comparative income statement of Mill Designs, Inc. Round percentage changes to one decimal place. (Round the percentages to one decimal place, XX%. Use a minus sign or parentheses to indicate a decrease.) Mill Designs, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 Increase (Decrease) 2024 2023 Amount Percentage $ 429,000 $ 375,000 % Net Sales Revenue Expenses: Cost of Goods Sold 201,000 189,350 % Selling and Administrative Expenses 100,000 95,350 % 8,350 3,250 Other Expenses % 309,350 287,950 Total Expenses % $ 119,650 $ 87,050 Net Income % i Data Table " Mill Designs, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 Net Sales Revenue Expenses: X 2024 2023 $ 429,000 $375,000 Cost of Goods Sold 201,000 189,350 Selling and Administrative Expenses 100,000 95,350 8,350 3,250 Other Expenses 309,350 287,950 Total Expenses $ 119,650 $ 87,050 Net Income Print Done Requirements 50 50 50 1. Prepare a horizontal analysis of the comparative income statement of Mill Designs, Inc. Round percentage changes to one decimal place. 2. Why did 2024 net income increase by a higher percentage than net sales revenue? 50 50 Print Done