ECES Question 7 Here are the comparative Income statements of Monty Corp.. MONTY CORP. Comparative Income Statement For the Years Ended December 31 2017 2016 Net les $628,300 $531,300 Cost of goods sold 456,400 409,900 Gross Profit 171.900 121,400 Operating expenses 71,400 41,100 Niet income $ 100,500 $ 80,300 dy Prepare a horizontal analysis of the income statement data for Monty Corpusing 2016 as a base. (If amount and percentage are a decrease show the num MONTY CORP. Comparative Income Statement Increase or (Decrease During 2017 Amount Percentage 2017 2016 Net sales $628.300 $531,300 5 Cost of goods sold 456.400 409.900 Gross Peoft 171.900 121,400 Operating expenses 71,400 41,100 Net income $ 100,500 $ 80,300 Prepare a vertical analysis of the income statement data for Monty Corp. for both years. (Round percentages to 1 decimal place e... 12.19.) MONTY CORP. Condensed Income Statements 2017 Percent 2016 Percent Net sales $628,300 % 5531,300 Cost of goods sold 456.400 9 409,900 5 Gross Profit 171.900 90 121.400 Operating expenses 71.400 9 41.100 Net income $ 100.500 % $ 80,300 Click if you would like to Show Work for this questions Open Show Work