Income statement data for Moreno Company for two recent years ended December 31, are as follows:

Current Year Previous Year

Sales 11200001000000

Cost of goods sold 971250 875000

Gross profit148750 125000

Selling expenses71250 62500

Administrative expenses56000 50000

Total operating expenses 127250112500

Income before income tax2150012500

Income tax expense 80005000

Net income Current13,500 75000

a. Prepare a comparative income statement with horizontal analysis, indicating the in- crease (decrease) for the current year when compared with the previous year. Round to one decimal place.

a. Prepare a comparative income statement with horizontal analysis, indicating the in- crease (decrease) for the current year when compared with the previous year. Round to one decimal place.