Sales Cost of goods sold Gross profit Seting expenses Macklin Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2011 Administrative expenses Total operating expenses Operating income Other revenue Income before income tax Income tax expense 2012 $575,016 $494,000 (415,400) (310,000) $159,616 $154,000 $59,850) $(42,000) (33.960) (26,000) $53,810) $68.000) $65,806 $136,000 2,696 2.100 $68,502 $118,100 (19,200) (35,400) $49,302 $2,700 Net income Required: 1. Prepare a comparative income statement with horisontal analysis for the two-year period, using 2013 as the base year Use the minus sign to indicate a decrease in the "Increase/Decrease)" columns. If required, round percentages to one decimal place Macklin Int. Comparative Income Statement For the Years Ended December 31, 3012 and 201 2011 (Decrease) (Decrease) Amount Percent Cost of goods sold Selling expenses Adminstrative expen (415,400) 310,000) $159,436 $104,000 $55,850) (42,000) (33,060) (26,000) Operating income $93,810) (8,000) $65,000 $116,000 21310 2.100 23% Other revenue Income before income tax expense $68,502 $118,100 (19,200) (35.400) Net income 149,302 $82,700 4%