Horizontal Analysis of Income Statement For 2012, McDade Company reported a dedine 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 20Y1 2012 2011 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses 5812,412 $684,000 593,400 430,000 $219,012 $254,000 $85,550 $58,000 48,310 36,000 Total operating expenses $133,860 $94,000 Income from operations $85,152 $160,000 Other income 3,576 2,900 Income before income tax. $88,726 $162,900 24,800 48,900 Income tax expense $63,928 $114,000 Net income Required: the the minus sign to indicate a decrease in the