ED-15 Performing horizontal analysis-income statement Data for McCormick Designs, Inc. follow: MCCORMICK DESIGNS, INC. Comparative Income Statement Years Ended December 31, 2016 and 2015 2016 2015 Net Sales Revenue 431,250 373,000 Expenses: Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses 202,000 189,000 92,550 2,150 283,700 $ 121,200 S89,300 100,050 8,000 310,050 Net Income Requirements 1. Prepare a horizontal analysis of the comparative income statement of McCormick Designs, Inc. Round percentage changes to one decimal place. 2. Wh y did 2016 net income increase by a higher percentage than net sales revenue? tive 2 ED-16 Computing trend analysis Grand Oaks Realty's net revenue and net income for the following five-year period, using 2013 as the base year, follow: 166% 2017 2016 2015 2014 2013 Net Revenue $1,315,000 1,188,000 $ 1,160,000 $ 1,011,000 $1,038,000 Net Income 126,000 115,000 82,000 77,000 76,000 Requirements 1. Compute a trend analysis for net revenue and net income. Round to the nearest full percent. 2. Which grew faster during the period, net revenue or net income