Income Statement Years Ended December 31, 2017 and 2016 Increase (Decrease) Amount Percentage 2017 2016 $800,000 0 800,000 $600,000 4,200 604,200 $200,000 33.3 % (4,200) (100.00% 195,800 32.4% Revenues: Net Sales Other Revenues Total Revenues Expenses: Cost of Goods Sold Selling and Administrative Expenses Interest Expense Income Tax Expense Other Expenses Total Expenses Net Income 570,400 149,600 15,200 8,000 800 744,000 $56,000 406,200 115,800 15,600 5,400 164,200 33,800 (400) 2,600 800 201,000 $(5,200) 40.4% 29.2% (2.6) % 48.1 % 0.0% 37.0% (8.5) % 543,000 $61,200 A. Is this a horizontal or vertical analysis? B. Are the operations improving or not based on this analysis? Why? C. Explain what this analysis shows you about the operations of this company. Base your answer on the analysis presented, not your own analysis of the income statement. (Limit 50-100 words) Click Save and Submit to save and submit. Click Save All Answers to save all answers