Horizontal analysis of income statement For 20Y2, 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: 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using zoy1 as the base yeac, Round percentages to one decimat place. For those bowes in which you must enter subtracted or negative numbers use a minus sign. 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y1 as the base year. Round percentages to one decimal place. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Fentback Calcutate the change in the amount and divide by the base (older) year amount to determine the porizontal analysis percentages