fode: Fi... Question 2 - CH 1... The Nichols Corporation data is as follows: Account Current year Prior year Total Assets $186,200 $144,000 Total liabilities $107.500 $85,000 Common stock (5,000 shares) $47,460 $42.000 Retained earnings $31,240 $17,000 Net sales revenue $607,700 $515,000 COGS $469,700 $385,000 Gross Profit $138,000 $130,000 Selling/General expenses $49,080 $52,000 Net income before taxes $88.920 $78,000 Income tax expense $20,520 $18,000 Net Income $68,400 $61,000 What would a horizontal analysis report with respect to income tax expense? What would a horizontal an a O 3.50% 0 11.02% O 3.38% 14.00%