The comparative income statements of Dancing Music Co. follow: 8 (Click the icon to view the comparative income statements.) Requirement 1. Prepare a horizontal analysis of the comparative income statements of Dancing Music Co. Round percentage changes to the nearest one-tenth percent. (Use a minus sign or parentheses for decreases. Round percentage changes to the nearest one-tenth percent, XX%.) O Data Table Dancing Music Co. Horizontal Analysis of Comparative Income Statements Years Ended December 31, 2016 and 2015 Dancing Music Co. Increase (Decrease) Comparative Income Statements 2016 2015 Amount Percentage Years Ended December 31, 2016 and 2015 Total revenue $ 1,075,000 s 016,000 2016 2015 Expenses: Total revenue $ 1,075,000 $ 915,000 Cost of goods sold 475,000 406,260 Expenses: Selling and general expenses 285,000 261,000 [ Cost of goods sold $ 475,000 $ 406, 250 Interest expense 22,500 12,500 Selling and general expenses 285,000 261,000 Income tax expense 104,500 82,150 Interest expense 22,500 12,500 Total expenses 887,000 761,900 104,500 Income tax expense 82,150 188,000 $ 153,100 Total expenses 887,000 Net income 761,900 Net income 188,000 $ 153,100 Print Done Enter any number in the edit fields and then click Check