Data Table Prepare a horizontal analysis of the following comparative income statement of The McCormick Group. (Click the icon to view the comparative income statement.) Why did net income increase by a higher percentage than net sales revenue during 2017? Show McCormick's horizontal analysis of net sales and expenses. (Round the percentages to the nearest hundredth percent.) The McCormick Group Horizontal Analysis of Comparative Income Statements Years Ended December 31, 2017 and 2016 The McCormick Group Income Statement For the Years Ended December 31, 2017 and 2016 (amounts in thousands) 2017 2016 Sales revenues $ 458,800 $ 400,000 (amounts in thousands) Increase/(Decrease) Less: Cost of goods sold 209,820 195,000 2017 2016 Amount Percent Gross profit $ 248,980 $ 205,000 Sales revenues $ 458,800 $ 209,820 400,000 % 195,000 Less: Operating expenses 95.670 90,000 Less: Cost of goods sold % Operating income $ 153,310 S 115,000 Gross profit $ 248,980 $ 205,000 % 4.250 3,125 Less: Operating expenses 95,670 90,000 Less: Interest expense % Income before income taxes $ 149,060 S 111,875 Operating income $ 153,310 $ 115,000 % 16,420 11,875 4,250 3,125 Less: Income tax expense Less: Interest expense % $ 132,640 S 100,000 Net income Income before income taxes $ 149,060 $ 111,875 % 16,420 11,875 Less: Income tax expense % Print Done $ 132,640 $ 100,000 Net income % Why did net income increase by a higher percentage than net sales revenue during 2017? Net income increased by a much higher percentage than total revenues during 2017 because Enter any number in the edit fields and then continue to the next question. increased at a higher rate than did V X A