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For 20Y2, Mackin Ine. reported a significant decrease in net incorne. At the end of the year, John Mayer, the president, is presented with the

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For 20Y2, Mackin Ine. reported a significant decrease in net incorne. At the end of the year, John Mayer, the president, is presented with the following condensed comparative income statement: 1. Prepare a comparative income statement with horizontal analysis for the two-year period, usiny 20y1 as the base year. Use the minus sign to indicate a decreaset in the "Increase/(Decrease)" columns. If required, round percentages to one decimal place. 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20 yl as the base year. Use the minus sign to ingcate a decrease in the "Increase/(Decrease)" columns. If required, round percentages to one decimal place. 2. Net income has from 20r1 to 20Y2. Sales have ; however, the cost of goods sold has at a fiaster rate than sales, causing the gross proft to

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