Horizontal Analysis Two income statements for Vaughn Company follow: Vaughn Company Income Statements For the Years Ended December 31 Fees earned Operating expenses Net income 2011 20YO $716,800 $896,000 557,760 $159,040 672,000 $224,000 Prepare a horizontal analysis of Vaughn Company's income statements. Use the minus sign to indicate a decrease in the amount and percentage columns. Vaughn Company Income Statements For the Years Ended December 31 2011 20YO Amount Increase/ Increase/ (Decrease) (Decrease) Percent Fees earned $716,800 $896,000 s x x% Operating expenses 557,760 672,000 x x Net Income $159,040 $224,000 x Che My Wis Check My Work Previous