Prepare a horizontal analysis of the following comparative income statement of The Enchanted Group ?(Click the icon to view the comparative income statement) Why did net income increase by a higher percentage than net sales revenue during 2017? Data Table Show Enchanted's horizontal analysis of net sales and expenses. (Round the percentages to the nearest hundredth percent.) The Enchanted Group Horizontal Analysis of Comparative Income Statements Years Ended December 31, 2017 and 2016 The Enchanted Group Income Statement For the Years Ended December 31, 2017 and 2016 (amounts in thousands) (amounts in thousands) Increase I (Decrease) 017 2016 Sales revenues Less: Cost of goods sold Gross proft Less: Operating expenses Operating income Less: Interest expense Income before income taxes Less: Income tax expense Net income $ 507,990 $ 442,500 217,500 $ 273,090 $225,000 120,000 S 146,010 $ 105,000 13,000 92,000 12,000 80,000 2017 2016 Amount Percent 234,900 Sales revenues Less: Cost of goods sold Gross profit Less: Operating expenses Operating income Less: Interest expense Income before income taxes Less: Income tax expense Net income S 507,990 S442,500 217,500 S 273,090 S 225,000 120,000 S 146,010 S 105,000 13,000 S 131,710 S92,000 12,000 S 111,560 S 80,000 234,900 127,080 127,080 14,300 14,300 131,710 $ 20.150 20,150 $ 111,560 $ Print Done