The comparative income statements of Dancing Music Co. follow Click the icon to view the comparative income statements) Dancing Music Co. Horizontal Analysis of Comparative Income Statements Years Ended December 31, 2018 and 2017 Increase (Decrease) 2018 2017 Amount Percentage Total revenue $ 1,075,000 $ 915,000 Expenses Cost of goods sold 475,000 406 250 Selling and general expenses 285.000 261,000 Interest expense 22.500 12.500 % Income tax expense 104,500 82.150 % Total expenses 887.000 761.900 Net income $ 188.000 $ 153,100 Enter any number in the cold and then continue to the next question esc 30 1 2 3 $ 4 % 5 6 & 7 tab Q W E R T Y caps lock A S D F G H shift 7 Dancing Music Co. Comparative Income Statements Years Ended December 31, 2018 and 2017 2018 2017 Total revenue $ 1,075,000 $ 915,000 Expenses: Cost of goods sold 475,000 $ 406,250 Selling and general expenses 285,000 261,000 Interest expense 22.500 12,500 Income tax expense 104, 82,150 Total expenses 887,000 761,900 188,000 $ Net Income 153,100 Print Done question 090 000 Fd ga DII DD q FS F6 F7 FB 710 $ A % 5 6 & 7 8 ( 9 ) O R T Y | Requirements 1. Journalize the transactions. 2. Prepare the stockholders' equity section of Citadel's balance sheet for the transactions. The company's Retained Earnings account has a balance of $47,000 Print Done balance sheet for the transactions. The company's Retained Earnings account has a balance of $47.000. (Entert then continue to the next question 000 000 Fd og DII F5 DD F6 F7 F8 59 A * % 5 & 7 ) 6 8 9 0