Score: 0 of 6 pts 1 of 8 (0 complete) HW Score: 0%, 0 of 48 pts EF17-13 (similar to) Question Help Data for Micatin Designs, Inc. follow: (Click the icon to view the data.) Read the requirements Requirement 1. Prepare a horizontal analysis of the comparative income statement of Micatin 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.) Micatin Designs, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 Data Table Requirements Increase (Decrease) Amount Percentage 2024 2023 $ 432,550 $ 371.150 Net Sales Revenue Expenses Micatin Designs, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 2024 1. Prepare a horizontal analysis of the comparative income statement of Micatin Designs, Inc. Round percentage changes to one decimal place. 2. Why did 2024 net income increase by a higher percentage than net sales revenue? Cost of Goods Sold % 2023 204,950 96,550 6,000 189,350 91,000 5,750 % Selling and Administrative Expenses Other Expenses S 432,550 S 371,150 % Print Done Total Expenses 307,500 286.100 % 204,950 $ 125.050 $ 85,050 Net Sales Revenue Expenses Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses Net Income 96,550 6,000 189,350 91,000 5,750 307,500 286,100 S 125,050 S 85,050 Net Income Print Done Enter any number in the edit fields and then click Check