Please solve this problem:

Exercise 13-6 Here are the comparative income statements of Delaney Corporation. DELANEY CORPORATION Comparative Income Statement For the Years Ended December 31 2017 2016 $500,000 $598,000 Net sales 477,000 420,000 Cost of goods sold Gross Profit 121,000 80,000 80,000 44,000 41,000 36,000 operating expenses Net income V Your answer is correct. Prepare a horizontal analysis of the income statement data for Delaney Corporation, using 2016 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%.) DELANEY CORPORATION Comparative Income Statement For the Years Ended December 31 Increase or (Decrease) During 2017 2017 2016 Amount Percentage $598,000 $500,000 19.6 Net sales 98,000