The comparative Income statements of McCormick Music Co. follow, im (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 of parentheses for decreases. Round percentage changes to the nearest one-tenth percent, XX%) McCormick Music Co. Horizontal Analysis of Comparative Income Statements Years Ended December 31, 2018 and 2017 Increase (Decrease) 2018 2017 Amount Percentage Total revenue $ 836,000 $ 938,000 % Expenses: Cost of goods sold 408,000 409,350 Selling and general expenses 238,000 263.000 % Interest expense 9,500 14,000 Income tax expense 79,000 85,750 Total expenses 734,500 772,100 % $ 101,500 $ 165,900 Net income - Data table McCormick Music Co. Comparative Income Statements Years Ended December 31, 2018 and 2017 2017 2018 836,000 $ Total revenue $ 938,000 $ $ 408,000 $ 409,350 Expenses: Cost of goods sold Selling and general expenses Interest expense 238,000 263,000 9,500 79,000 14,000 85,750 Income tax expense Total expenses 734,500 772,100 Net income $ 101,500 $ 165,900