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E11-14 (similar to) Question Help O Prepare a horizontal analysis of the comparative income statement of Comfy Music Ltd. Round percentage changes to the nearest one-tenth percent. B (Click the icon to view the comparative income statement.) (Use a minus sign or parentheses for decreases. Enter the percentage changes as a percent, rounded to one decimal place, X.X%.) Comfy Music Ltd. Horizontal Analysis of Comparative Income Statement For the Years Ended December 31, 2017, and 2016 Increase (Decrease) 2017 2016 Amount Percentage 402,000 $ 428,000 Total revenue Expenses: Cost of goods sold 186,000 204,000 % Selling and general expenses 95,000 87,000 % Interest expense 4,000 12,000 % 36,500 45,500 Income tax expense % 321,500 348,500 Total expenses % $ 80,500 $ 79,500 Net income Prepare a horizontal analysis of the comparative income statement of Comfy Music Ltd. Round percentage changes to the nearest one-tenth percent. 5(Click the icon to view the comparative income statement.) Comparative income statement (Use a minus sign or parentheses for decreases. Enter the percentage ch Comfy Music Ltd. Horizontal Analysis of Comparative Income Statement Comfy Music Ltd. For the Years Ended December 31, 2017, and 2016 Comparative Income Statement Incr For the Years Ended December 31, 2017, and 2016 2017 2016 Amoy 2017 2016 $ 402,000 $ 428,000 $ Total revenue 402,000 $ 428,000 Total revenue Expenses: Cost of goods sold Selling and general expenses Interest expense 186,000 204,000 Expenses Cost of goods sold Selling and general expenses $ 204,000 95,000 186,000 $ 95,000 4,000 87,000 87,000 12,000 45,500 Interest expense 4,000 36,500 12,000 Income tax expense Income tax expense 36,500 45,500 Total expenses 321,500 348,500 Total expenses 321,500 348,500 $ 80,500 $ 79,500 $ 80,500 $ 79,500 Net income Net income Print Done