Outdoor Music Co. Comparative Income Statements Years Ended December 31, 2018 and 2017 2018 2017 917,000 Total revenue $ 1,077,000 $ Expenses: Cost of goods sold $ 477,000 $ 408,750 Selling and general expenses 287,000 267,000 Interest expense 23,500 105,500 13,500 84,650 Income tax expense Total expenses 893,000 773,900 $ Net income 184,000 $ 143,100 The comparative income statements of Outdoor Music Co. follow: (Click the icon to view the comparative income statements.) Requirement Prepare a horizontal analysis of the comparative income statements of Outdoor Music Co. Round percentage changes to the nearest one-tenth percent. (Use a minus sign or parentheses for decreases. Round percentage changes to the nearest one-tenth percent, X.X%.) Outdoor Music Co. Horizontal Analysis of Comparative Income Statements Years Ended December 31, 2018 and 2017 Increase (Decrease) 2018 2017 Amount Percentage $ 1,077,000 $ 917,000 % Total revenue % Expenses: Cost of goods sold Selling and general expenses Interest expense 408,750 267,000 % 477,000 287,000 23,500 105,500 % 13,500 84,650 Income tax expense % Total expenses 893,000 773,900 % Net income $ 184,000 $ 143,100