Exercise 18-4 (Part Level Submission) The comparative condensed income statements of Emley Corporation are shown below. EMLEY CORPORATION Comparative Condensed Income Statements For the Years Ended December 31 2015 2014 $604,330$496,670 418,430 Net sales Cost of goods sold Gross profit Operating expenses Net income 478,970 125,360 58,310 67,050 78,240 46,770 $ 31,470 Y (a) Prepare a horizontal analysis of the income statement data for Emley Corporation using 201