Exercise 13-6 Here are the comparative income statements of Swifty Corporation SWIFTY CORPORATION Income Statement For the Years Ended December 31 2017 2016 Net saies Ccst of goods scld Gross Proft Operating expenses Net income $614,700 S551,200 427,600 160,100 123.600 48,200 $ 84,400 75,400 454,600 75,700 Prepare a horizontal analysis of the no me statement date for Swifty Corporation, using 2016 as a base. place, e.g. 12.1%.) If amount and percentage are a decrease show the numbers as negative e g 55,000-20% or 55,000), 20 Round percentages to 1 decimal SWIFTY CORPORATION Increase or (Decrease) During 2017 2017 2016 Amount $614,700 Net sales Cost of goodso 454,600 427,600 Gross Pror Operating expenses 75,700 48,200 Net income $551,200 160,100 123,600 S 94,400 75,400 LINK TO TEXT Prepare a vertical analysis of the income statement data for Swifty Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.) SWIFTY CORPORATION 2017 2016 Percent Percent Net sales Cost of g0ods soid 454,600 Gross Profit Operating epenss 75,700 Net income % 551,200 427,600 % 123,600 $614,700 160,100 $ 84,400 % $75,400 Click if you would like to Show Work for this questioni Open Show Work