eBook Show Me How For 2012, Macklin Inc. reported a significant decrease in net income. At the end of the year, John Mayer, the president, is presented with the following condensed comparative income statement: Macklin Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2011 Sales Cost of goods sold Gress profit Selling expenses Administrative expenses Total operating expenses Operating income Other revenue Income before income tax expense Income tax expense 2012 2011 $333,144 $294,000 (243,200) (190,000) $89,944 $104,000 $(33,750) $(25,000) (20,030) (16,000) $(53,780) $(41,000) $36,164 $63,000 1,519 1,200 $37,683 $64,200 (10,600) (19,300) $27,083 $44,900 Net income Required: 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 2011 as the base year. Use the minus sign to indicate a decrease in the "Increase/(Decrease)" columns. If required, round percentages to one decimal place. Macklin Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 201 Check My Work Demine eBook Show Me How 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 2011 as the base year. Use the minus sign to indicate a decrease in the "Increase/(Decrease)" columns. If required, round percentages to one decimal place. Macklin Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 20Y1 2012 Sales Cost of goods sold 2011 $333,144 $294,000 (243,200) (190,000) Increase/ Increase/ (Decrease) (Decrease) Amount Percent Gross profit Selling expenses Administrative expenses $89,944 $104,000 $(33,750) $(25,000) Total operating expenses Operating income Other revenue (20,030) (16,000) $(53,780) $(41,000) $36,164 $63,000 $ 1,519 1,200 Income before income tax expense $37,683 $64,200 Income tax expense (10,600) (19,300) $27,083 $44,900 Net income Check My Work CO