Horizontal analysis of income statement place. Macklin Inc. Comparative Income Statement For the Years Ended December 31, 20 Y2 and 20Y1 \begin{tabular}{|c|c|c|c|c|} \hline & & & \multicolumn{2}{|c|}{Increase/Increase/(Decrease)(Decrease)} \\ \hline Line Item Description & 20Y2 & 20Y1 & Amount & Percent \\ \hline Sales & $739,200 & $627,000 & $ & % \\ \hline Cost of goods sold & (544,000) & (400,000) & & % \\ \hline Gross profit & $195,200 & $227,000 & $ & % \\ \hline Selling expenses & $(76,850) & $(53,000) & $ & % \\ \hline Administrative expenses & (43,690) & (33,000) & & % \\ \hline Total operating expenses & $(120,540) & $(86,000) & $ & % \\ \hline Operating income & $74,660 & $141,000 & $ & % \\ \hline Other revenue & 3,120 & 2,600 & & % \\ \hline Income before income tax expense & $77,780 & $143,600 & $ & % \\ \hline Income tax expense & (21,800) & (43,100) & & % \\ \hline Net income & $55,980 & $100,500 & $ & % \\ \hline \end{tabular}