Income Statements Year Ended December 31 Current Year Sales Revenue $ 776,559 Cost of Goods Sold 385,641 Gross Profit 390,918 Operating and Other Expenses 133,814 Interest Expense 7,300 Income Tax Expense 43,800 Net Income $206,004 Prior Year $721,842 355, 743 366,099 123,460 14, 200 42,700 $185,739 Required: Prepare a horizontal analysis of the income statement above. (Round your percentage answers to 2 decimal places. Enter any decreases with a minus sign.) URBAN OUTFITS, INC Income Statements Year Ended December 31 Increase (Decrease) Current Year Prior Year Amount Percent (%) Sales Revenue $776,559 $ 721,842 Cost of Goods Sold 385,641 355,743 Gross Profit 390,918 366,099 133,814 123,460 Operating and Other Expenses Interest Expense Income Tax Expense 7,300 14,200 43,800 42,700 Net Income $206,004 $ 185,739