For 20Y2, Macklin Inc. reported a significant decrease in net income. At the end of the year, John Mayer, the president, is presented with the following condensed comparative income statement: Macklin Inc. Comparative Income Statement For the Years Ended December 31, 2022 and 2041 20Y2 20Y1 Sales $745,858 (541,200) $204,658 $(75,600) (43,790) $(119,390) Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Operating income Other revenue Income before income tax expense Income tax expense Net income $646,000 (410,000) $236,000 $(54,000) (34,000) $(88,000) $148,000 2,700 $85,268 3,410 $88,678 (24,800) $63,878 $150,700 (45,200) $105,500 Required: 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 2041 as the base year. Use the minus sign to indicate a decrease in the "Increase/(Decrease)" columns. If required, round percentages to one decimal place. Macklin Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 Increase! Increase/ (Decrease) (Decrease) 20Y2 20Y1 Amount Percent Sales $745,858 $646,000 % Cost of goods sold (541,200) (410,000) % Gross profit $204,658 $236,000 $ % Selling expenses $(75,600) $(54,000) % Administrative expenses (43,790) (34,000) Total operating expenses $(119,390) $(88,000) % Operating income $85,268 $148,000 % Other revenue 3,410 2,700 % Income before income tax expense % $88,678 (24,800) $150,700 (45,200) Income tax expense % Net income $63,878 $105,500 %