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

	Current Year			Previous Year
Sales	$972,800			$760,000
Cost of goods sold	819,000			650,000
Gross profit	$153,800			$110,000
Selling expenses	$44,840			$38,000
Administrative expenses	40,320			32,000
Total operating expenses	$85,160			$70,000
Income before income tax	$68,640			$40,000
Income tax expenses	27,500			16,000
Net income	$41,140			$24,000

a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. If required, round to one decimal place.

Winthrop Company
Comparative Income Statement
For the Years Ended December 31
	Current year Amount	Previous year Amount	Increase (Decrease) Amount	Increase (Decrease) Percent
Sales	$972,800	$760,000	$	%
Cost of goods sold	819,000	650,000		%
Gross profit	$153,800	$110,000	$	%
Selling expenses	44,840	38,000		%
Administrative expenses	40,320	32,000		%
Total operating expenses	$85,160	$70,000	$	%
Income before income tax	$68,640	$40,000	$	%
Income tax expense	27,500	16,000		%
Net income	$41,140	$24,000	$	%