Show Me How Horizontal Analysis of Income Statement For 2012, Macklin Inc. reported a significant decrease in net income. At the end of the year John Mayer, the president, is presented with the following condensed comparative income statement Hacklin Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 201 Sales Cost of goods sold Gross profe Selling expenses Administrative expenses Total operating expenses Operating income Other revenue Income before income tax experi Income tax expense 2012 2011 $540.652 $494,000 (304,400) (310,000) $164.252 $184.000 $(54.600) $(42.000) (31,620) (26,000) $(06.220) $(68,000) $78.032 $116.000 2.726 2.100 $80.758 (22.600) $58.156 $118.100 25.400) $82.700 Tiet income Required: 1. Prepare a comparative income statement with horizontal analysis for the tryear period using 2011 as the base year Use the minus sign to indicate a decrease in the increase/Decrease) columna. If required round percentages to one decimal place