Return to Blackboard Kimmel, Financial Accounting,8e Help I S ES Here are the comparative income statements of Bramble Corp BRAMBLE CORP Comparative Income Statement For the Years Ended December 31 2017 2016 Net sales Cost of goods sold Gross Profit Operating expenses Net income $630,300 448,200 182,100 70,800 $111,300 $569,500 429,100 140,400 40,300 $100,100 Study a horizontal analysis of the income statement data for Bramble Corp, using 2016 as a base. (If amoun -20% or (55,000), (2096). Round percnt ages to 1 decimal place, e.g. 12.1%.) BRAMBLE CORP. Comparative Income Statement Increase or (Decrease) During 2017 2017 2016 $630,300 $569,500 Cost of goods sold 448,200 429,100 182,100 140,400 Operating expenses 70,800 40,300 $ 111,300 100,100 Net sales Gross Profit Net income11 Prepare a vertical analysis of the income statement data for Bramble Corp. for both years. (Round percentages BRAMBLE CORP Income Statements