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, 20Y2 and 20Y1 20Y2 20Y1 Sales $506,382 $427,000 Cost of goods sold (372,600) (270,000) Gross profit $133,782 $157,000 Selling expenses $(53,100) $(36,000) Administrative expenses (30,870) (23,000) Total operating expenses $(83,970) $(59,000) Operating income $49,812 $98,000 Other revenue 2,279 1,800 Income before income tax expense $52,091 $99,800 Income tax expense (14,600) (29,900) Net income $37,491 $69,900 Required: 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y1 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, 20Y2 and 20Y1 20Y2 20Y1 Increase/ (Decrease) Amount Increase/ (Decrease) Percent Sales $506,382 $427,000 $fill in the blank a2e381029067037_1 fill in the blank a2e381029067037_2 % Cost of goods sold (372,600) (270,000) fill in the blank a2e381029067037_3 fill in the blank a2e381029067037_4 % Gross profit $133,782 $157,000 $fill in the blank a2e381029067037_5 fill in the blank a2e381029067037_6 % Selling expenses $(53,100) $(36,000) $fill in the blank a2e381029067037_7 fill in the blank a2e381029067037_8 % Administrative expenses (30,870) (23,000) fill in the blank a2e381029067037_9 fill in the blank a2e381029067037_10 % Total operating expenses $(83,970) $(59,000) $fill in the blank a2e381029067037_11 fill in the blank a2e381029067037_12 % Operating income $49,812 $98,000 $fill in the blank a2e381029067037_13 fill in the blank a2e381029067037_14 % Other revenue 2,279 1,800 fill in the blank a2e381029067037_15 fill in the blank a2e381029067037_16 % Income before income tax expense $52,091 $99,800 $fill in the blank a2e381029067037_17 fill in the blank a2e381029067037_18 % Income tax expense (14,600) (29,900) fill in the blank a2e381029067037_19 fill in the blank a2e381029067037_20 % Net income $37,491 $69,900 $fill in the blank a2e381029067037_21 fill in the blank a2e381029067037_22 %