Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows Current Year $593,400 495,300 $98,100 $29,750 26,670 $56,420 $41,680 16,700 $24,930 Previous Year Sales $460,000 390,000 $70,000 $25,000 21,000 Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses $46,000 Income before income tax $24,000 Income tax expenses 9,600 Net income $14,400 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year O Type here to search