Requirement 1. Prepare a horizontal analysis of the comparative income statement of Mariner Designs, Inc. Round percentage changes to one decimal place. parentheses to indicate a decrease.) Mariner Designs, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 Increase (Decrease) Amount Percentage 2024 2023 Net Sales Revenue 432,000 $ 371,150 60,850 % Expenses: Cost of Goods Sold 203,000 188,750 14,250 % Selling and Administrative Expenses 7,700 % 100,250 5,450 92,550 4,000 Other Expenses 1,450 % Total Expenses 308,700 285,300 23,400 % $ 123,300 $ 85,850 $ 37,450 Net Income % 1 Data Table Mariner Designs, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 2024 2023 $ 432,000 $ 371,150 Net Sales Revenue Expenses: Cost of Goods Sold 203,000 188,750 Selling and Administrative Expenses 100,250 5,450 92,550 4,000 Other Expenses Total Expenses 308,700 285,300 $ 123,300 $ 85,850 Net Income Print Done Requirements 1. Prepare a horizontal analysis of the comparative income statement of Mariner Designs, Inc. Round percentage changes to one decimal place. Why did 2024 net income increase by a higher percentage than net sales revenue? 2. Print Done