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: Macklin Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 20Y2 20Y1 Sales $670,912 $608,000 Cost of goods sold (463,600) (380,000) Gross profit $207.312 $228.000 Selling expenses $(65,030) $(51,000) Administrative expenses (38,340) (32.000) Total operating expenses $(103,370) $(83,000) Operating income $103,942 $145,000 Other revenue 3,208 2,600 Income before income tax expense $107,150 $147,600 Income tax expense (30,000) (44,300) Net income $77,150 $103,300 Required: 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y1 as the base year. Use the minus sign to indicate a decrease in the "Increase/(Decrease)" columns. If required, round percentages to one decimal place. Macklin Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 2041 Increased Increase/ (Decrease) (Decrease) 2042 2041 Amount Percent Sales $670,912 $608,000 $ Cost of goods (463.600) (380,000) sold Gross profit $207,312 $228,000 $