Requirement 1. Prepare a horizontal analysis of the comparative income statement of Variline 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.) Variline Designs, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 Increase (Decrease) 2024 2023 Amount Percentage Net Sales Revenue $429,000 $373,000 % Expenses: Cost of Goods Sold 204,950 188,000 % Selling and Administrative Expenses 100,000 93,000 % Other Expenses 7,450 6,000 % Total Expenses 312,400 287,000 % Net Income $116,600 $86,000 %