help please

EX 14-5 Horizontal analysis of the income statement Obj. 2 a. Net income Income statement data for Winthrop Company for two recent years ended December 31 are as increase, 78.0% follows: a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. Round percentages to one decimal place. b. What conclusions can be drawn from the horizontal analysis? Winthrop Company Comparative Income Statement For the Years Ended December 31 \begin{tabular}{|c|c|c|c|c|} \hline & \multirow{2}{*}{\begin{tabular}{c} Current Year \\ Amount \end{tabular}} & \multirow{2}{*}{\begin{tabular}{c} Previous Year . \\ Amount \end{tabular}} & \multicolumn{2}{|c|}{ Increase (Decrease) } \\ \hline & & & Amount & Percent \\ \hline Sales & \$ 2,240,000 & \$ 2,000,000 & & \\ \hline Cost of goods sold & (1,925,000) & (1,750,000) & - & \\ \hline Gross profit & \$ 315,000 & $250,000 & & \\ \hline Selling expenses & $(152,500) & $(125,000) & & \\ \hline Administrative expenses & (118,000) & (100,000) & & \\ \hline E Total operating expenses & $(270,500) & $(225,000) & & \\ \hline Income before income tax expense & $44,500 & $25,000 & & \\ \hline Income tax expense & (17,800) & (10,000) & & \\ \hline Net income & $26.700 & 15,000 & & \\ \hline \end{tabular}