Horizontal Analysis of the Income Statement Income statement data for Boone Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales $848,700 $690,000 Cost of goods sold 708,000 590,000 Gross profit $140,700 $100,000 Selling expenses $39,550 $35,000 Administrative expenses 36,300 30,000 Total operating expenses $75,850 $65,000 Income before income tax $64,850 $35,000 Income tax expenses 25,900 14,000 Net income $38,950 $21,000 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. If required, round to one decimal place.