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I need help. Reed Company had the following income statement to be used in horizontal analysis: 2019 2018 Sales $ 900,000 $ 1,000,000 Cost of

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Reed Company had the following income statement to be used in horizontal analysis: 2019 2018 Sales $ 900,000 $ 1,000,000 Cost of Goods Sold 324,000 400,000 Gross Profit 576,000 600,000 Operating Expenses 328,300 360,000 Income Before Taxes 247,700 240,000 Income Tax Expense 99,080 96,000 Net Income $ 148,620 $ 144,000Required: Examine net income and compute the following. Indicate for each whether the change is an increase or a decrease: 1. Compute the change in dollar amount from 2018 to 2019. 2. Compute the percentage change from 2018 to 2019. Round your answer to two decimal places. Increase or Amount of Percent of Decrease Change Change Increase O Decrease $0

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