Horizontal analysis Two income statements for Paragon Company follow: Paragon Company Income Statements For the Years Ended December 31 207 206 Fees earned $2,242,000 $1,900,000 Expenses (1,748,000) (1,520,000) Net income $494,000 $380,000 Prepare a horizontal analysis of Paragon Company's income statements. If required, round your percentage to the nearest whole number. Paragon Company Income Statements For the Years Ended December 31 Increase/(Decrease) 207 206 Amount Percent Fees earned $2,242,000 $1,900,000 $ % Expenses (1,748,000) (1,520,000) Net income $494,000 $380,000 $