Here are the comparative condensed income statements of Lily Corporation. Lily Corporation Condensed Income Statements For the Years Ended December 31 2022 2021 Net sales $630,000 $517,000 Cost of goods sold 497,700 432,729 Gross profit 132,300 84,271 Operating expenses 87,570 49,115 Net income $ 44,730 $ 35,156 (a) a Prepare a horizontal analysis of the income statement data for Lily Corporation, using 2021 as a base. (Show the amounts of increase or decrease.) (Enter negative amounts and percentages using either a negative sign preceding the number eg. -45,-45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, eg. 12.3%.) LILY CORPORATION Condensed Income Statements Increase or (Decrease) During 2022 2022 2021 Amount Percentage % Net sales $630,000 $517.000 $ % Cost of goods sold 497.700 432.729 % 132.300 84.271 Gross profit Gross profit 132,300 84,271 % % 87,570 Operating expenses 49,115 % % Net income $44.730 $35.156 LILY CORPORATION Condensed Income Statements 2022 2021 Amount Percent Amount Percent Net sales $630,000 % $517,000 % Cost of goods sold 497,700 % % 432,729 % Gross profit 132,300 % % 84,271 % 49,115 % % 87,570 Operating expenses % % Net income $ 44,730 $ 35,156