Horizontal analysis Two income statements for Paragon Company follow: Paragon Company Income Statements For the Years Ended December 31 Fees earned Expenses 2017 20Y6 $2,318,000 $1,900,000 (1,624,500) (1,425,000) $693,500 $475,000 Net income 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 20Y7 2016 Fees earned $2,318,000 $1,900,000 $ Expenses (1,624,500) (1,425,000) Net Income $693,500 $475,000 $ Increase/(Decrease) Amount Percent % % %