Sales Revenue Urban Outfits, Incorporated Income Statements Year Ended December 31 Cost of Goods Sold Gross Profit Operating and Other Expenses Interest Expense Income Tax Expense Net Income Current Year $ 866,559 439,485 427,074 Prior Year $ 798,126 409,029 389,097 141,580 25,600 155,522 8,700 57,000 54,700 $ 205,852 $ 167,217 Required: Prepare a horizontal analysis of the income statement above. (Round your percentage answers to 2 decimal places. Enter any decreases with a minus sign.) URBAN OUTFITS, INCORPORATED Income Statements Year Ended December 31 Increase (Decrease) Current Year Prior Year Amount Percent (%) Sales Revenue $866,559 $798,126 Cost of Goods Sold 439,485 409,029 Gross Profit 427,074 389,097 Operating and Other Expenses 155,522 141,580 Interest Expense 8,700 25,600 Income Tax Expense 57,000 54,700 Net Income $205,852 $167,217