PHAROAH CORPORATION Comparative Income Statement For the Years Ended December 31 2022 2021 Net sales $612400 $531,500 Cost of goods sold 447500 409400 Gross Profit 164900 122100 Operating expenses 78000 49600 Net income $ 86900 $ 72500 (a) Prepare a horizontal analysis of the income statement data for Pharoah Corporation, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g.-55,000,-20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) PHAROAH