Prepare a horizontal analysis of the following comparative income statement of The Enchanted Group DE (Click the icon to view the comparative income statement.) Why did net income increase by a higher percentage than net sales revenue during 2017? C Show Enchanted's horizontal analysis of net sales and expenses. (Round the percentages to the nearest hur The Enchanted Group Horizontal Analysis of Comparative Income Statements Years Ended December 31, 2017 and 2016 (amounts in thousands) Increase / (Decrease) 2017 2016 Amount Percent $ Sales revenues % 458,800 $ 209.820 400,000 195.000 % $ % Less Cost of goods sold Gross profit Less: Operating expenses Operating income 248.980 $ 95,670 205,000 90,000 % $ % 153,310 $ 4.250 115,000 3,125 Less: Interest expense % Income before income taxes $ % 149,060 $ 16,420 111.875 11,875 Less: Income tax expense % Net income $ 132.640 $ 100,000 % comparate come statement) centage thannel sales revenue during 2017? and expenses (Round the percentages to the nearest hundredth percent.) - X Data table The Enchanted Group Income Statement For the Year Ended December 31, 2017 and 2016 (amounts in thousands) 2017 2016 Sales revenues $ 458,800 S 400,000 Less: Cost of goods sold 209,820 195.000 Gross profit $ 248,980 S 205.000 Less: Operating expenses 95.670 90.000 Operating income $ 153,310 $ 115.000 Les Interest expense 4.250 3,125 Income before income taxes $ 149,060 $ 111.875 Less Income tax expense 16.420 11.875 Net income $ 132.640 5 100,000 Print Done ore help Clear all