Data for Verifine Designs, Inc. follow EEE (Click the icon to view the data) Read the requirements Requirement 1. Prepare a horizontal analysis of the comparative income statement of Verifine Designs, Inc. Round percentage changes to one declmal place. (Round the percentages to one decimal place, X Use a minus sign or parentheses to indicate a decrease ) Verifine Designs, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 Increase (Decrease) Amount Percentage 2018 2017 Net Sales Revenue 429.750 S 371.150| |% Expenses Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses Net Income Requirement 2. Why did 2018 net income increase by a higher percentage than net sales revenue? Net income increased by a higher percentage than total net sales revenue during 2018 because 202,000 99.350 8.500 309,850 189,000 91,050 3,000 283,050 119,900 $83,100 revenues and expenses remained the same revenues increased at a higher rate than total expenses revenues increased at a lower rate than total expenses total expenses increased at a higher rate than revenues Enter any number in the edit fields and then continue to the next question 11 PM O Type here to search DOLL Requirements Prepare a horizontal analysis of the comparative income statement of Verifine Designs, Inc. Round percentage changes to one decimal place. Why did 2018 net income increase by a higher percentage than net sales revenue? 2. Data Table 18 Verifine Designs, Inc Comparative Income Statement Years Ended December 31, 2018 and 2017 20182017 Net Sales Revenue $ 429,750 S 371.150 Expenses: 309,8 119,90 by a hi otal net Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses 202,000 189,000 99.350 91,050 3.000 309,850 283,050 $ 119,900 S 88,100 8,500 Net Income Print Done inue to the next