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The comparative income statements of O'Neil Music Co. follow: (Click the icon to view the comparative income statements.) O'Neil Music Co. Horizontal Analysis of Comparative Income Statements Years Ended December 31, 2018 and 2017 Increase (Decrease) 2018 2017 Amount Percentage $ 844,000 $ 934,000 % Total revenue Expenses: 404,000 400,000 % Cost of goods sold Selling and general expenses 234,000 270,000 % Interest expense % Income tax expense % 9,300 12,000 84,000 86,000 731,300 768,000 112,700 $ 166,000 Total expenses % Net income $ % Data Table O'Neil Music Co. Comparative Income Statements Years Ended December 31, 2018 and 2017 2018 844,000 $ 2017 934,000 $ Total revenue Expenses: Cost of goods sold Selling and general expenses $ 400,000 404,000 $ 234,000 Interest expense 9,300 84,000 270,000 12,000 86,000 Income tax expense Total expenses 731,300 768,000 $ 112,700 $ Net income 166,000 Print Done