The comparative income statements of McCormick Music Co. follow: (Click the icon to view the comparative income statements.) Requirement Prepare a horizontal analysis of the comparative income statements of McCormick 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%.) Total revenue McCormick Music Co. Horizontal Analysis of Comparative Income Statements Years Ended December 31, 2018 and 2017 Increase (Decrease) 2018 2017 Amount Percentage $ 1,080,000 $ 919,000 Inco Expenses: Cost of goods sold Selling and general expenses 479,000 289,000 269,000 400,450 % 0/3) % Interest expense 24,500 14,500 % 106,500 86,850 Income tax expense % 899,000 770,800 Total expenses % $ 181,000 $ 148,200 Net income %