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The income statements for Urban Outfits, Inc. are presented below: Urban Outfits, Inc. Income Statements Year Ended December 31 Current Year Sales Revenue $806,559 Cost of Goods Sold 403,589 Gross Profit 402,970 Operating and Other Expenses 141,050 Interest Expense 7,750 Income Tax Expense 48.200 Net Income $ 205,970 Prior Year $747,270 373,505 373,765 129,500 18,000 46,700 $179,565 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.) Sales Revenue Cost of Goods Sold Gross Profit Operating and Other Expenses Interest Expense Income Tax Expense Net Income URBAN OUTFITS, INC Income Statements Year Ended December 31 Increase (Decrease) Current Prior Year Amount Percent Year (%) $806,559 $747,270 $ 59,289 8.00 403,589 373,505 30,084 402,970 373,765 29,205 8.00 141,050 129,500 11,550 7.750 18,000 (10,250) (57.00) 48,200 46,700 1.500 $205,970 $179,565 15 26,405