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Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31 are as follows: a. Prepare a comparative income statement with horizontal analyals. Indicating the increase (decrease) for the current year when conipared with the previous vear, If reguired, round to one decimal giace. b. The net income for Winthrop company increased between years, This increase was the combined result of an In sales and a percentage In cost of doods sold. The cost of goods aald increased at a rate than the increase in sales, thus causing the percentage increase in oross proft to be- than the percentage increase in sales