Exercise 13-6 (Part Level Submission) Here are the comparative income statements of Grouper Corporation. GROUPER CORPORATION Comparative Income Statements For the Years Ended December 31 2017 2016 Net sales $634,000 $568.100 Cost of goods sold 459,200 430,800 Gross Profit 174,800 137,300 Operating expenses 77,300 40.900 Net income $ 97,500 $ 96,400 (a) Prepare a horizontal analysis of the income statement data for Grouper Corporation, using 2016 1 GROUPER CORPORATION Comparative Income Statements Increase or (Decrease) During 2017 Amount Percentage 2017 $634,000 Net sales 2016 $568.100 430,800 Cost of goods sold Gross Profit 459,200 174,800 Operating expenses 77,300 137,300 40,900 $ 96,400 Net income $ 97,500