Horizontal analysis of income statement For 20Y2, Macklin Inc. reported a significant decrease in net income. At the end of the year, John Mayer, the president, is presented with the following condensed comparative income statement: 2. Net income has from 20Y1 to 20Y2. Sales have ; however, the cost of goods sold has atia faster rate than sales, causing the gross profit to I frum 20Y1 to 20Y 2. Sales have Ian sales, causing the gross profit to 20 Y to 20Y2. Sales have es, causing the gross profi 2. Net income has from 20Y1 te at a faster rate than sales, causil increased decreased 1 to 20Y2. Sales have ; however, the cost of goods soll ausing the gross profit te 3. increase decrease