• Perform a horizontal analysis of ABC Inc.'s income statement for the past three years. The income statement data is as follows:

  Year	Revenue	Expenses	Net Income
  20X1	$500,000	$400,000	$100,000
  20X2	$600,000	$450,000	$150,000
  20X3	$700,000	$500,000	$200,000

  Calculate the percentage change for each line item from 20X1 to 20X2, and from 20X2 to 20X3.