HORIZONTAL ANALYSIS. Smith Corporation provides the following comparative income statement: Smith Corporation Comparative Income Statement For the Years Ended December 31, 20X3 and 20X2 Sales Cost of goods sold Gross profit Operating expenses EBIT 20X3 $570,000 200,000 $370,000 100,000 $270,000 20X2 $680,000 170.000 $510,000 210,000 $300.000 Requirement: Calculate the percentage change using horizontal analysis and evaluate the results.