Requirement 1. Prepare a horizontal analysis of the comparative income statement of Micatin Designs, Inc. Round percentage changes to one decimal place. (Round the percentages to one decimal place, X.X%. Use a minus sign or parentheses to indicate a decrease.) Micatin Designs, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 Data table - Net Sales Revenue 2024 2023 Increase (Decrease) Amount Percentage $ 430,000 $ 371,000 % Expenses Cost of Goods Sold 203,000 189,350 % Selling and Administrative Expenses 96,000 92,000 % 8,500 3,250 Other Expenses % Net Sales Revenue Expenses: Micatin Designs, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 2024 2023 $ 430,000 $ 371,000 307,500 284,600 Cost of Goods Sold 203,000 189,350 Total Expenses % $ 122,500 $ 86,400 Selling and Administrative Expenses 96,000 92,000 Net Income % 8,500 Other Expenses 3,250 Requirement 2. Why did 2024 net income increase by a higher percentage than net sales revenue? Net income increased by a higher percentage than total net sales revenue during 2024 because 307,500 284,600 Total Expenses $ 122,500 $ 86,400 Net Income