Instructions: Prepare a horizontal analysis of the income statement for Cookie & Coffee Creations Inc. using 2010 as a base year (which is a continuation of the Continuing Cookie Chronicle) coOKIE & COFFEE CREATIONS INC Income Statement For the Year Ended October 31 Horizontal 2020 T 2019 Difference Analysis S485,625 5462500 222,694 208,125 262,93125 4,375 o Sales Cost of goods sold Gross profit Operating expenses Salaries & wages expense Depreciation expense Other operating expenses Total operating expenses Income from operatio Other expenses Interest expense Loss on sale of computer equipment Total other expenses 147,979 146350 17, 60099,100 48,18642,925 213,765 198,375 49,166 56,000 413 2,500 OD 2,913 I Income before income tax Income tax expense 9,251 14,000 $37,002 $42,000 Net income