Horizontal Analysis of Income Statement For 2012, McDade Company reported a decline in net income. At the end of the year, T. Burrows, the president, is presented with the following condensed comparative income statement McDade Company Comparative Income Statement For the Years Ended December 31, 2012 and 2011 Sales Cost of goods sold Gross profs Selling expenses Administrative expenses Total operating expenses Income from operations Other revenue Income before income tax Income tax expense Net income Required: 2002 2011 $711,117 $627,000 $12,000 400,000 $199,117 $227,000 $71,550 $53,000 41,320 33,000 $112.870 106,000 $86,247 $141.000 3,253 2,600 $89,500 25,100 $64,400 $143,600 43,100 $100,500 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 2011 as the base year. Round percentages to one decimal place. Use the minus sign to indicate a decrease in the "Increase (Decrease)" columns