The comparative income statements of O'Neil Music Co. follow: (Click the icon to view the comparative income statements.) Requirement Prepare a horizontal analysis of the comparative income statements of O'Neil 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, X.X%.) O'Neil Music Co. Horizontal Analysis of Comparative Income Statements Years Ended December 31, 2018 and 2017 Increase (Decrease) Amount Percentage 2018 836,000 $ 2017 938,000 $ Total revenue Expenses: Cost of goods sold Selling and general expenses Interest expense 408,000 238,000 9,500 79,000 734,500 101,500 $ 409,350 266,000 14,000 85,750 775,100 162,900 Income tax expense Total expenses $ Net income i Data Table 2017 938,000 O'Neil Music Co. Comparative Income Statements Years Ended December 31, 2018 and 2017 2018 $ 836,000 $ Total revenue Expenses: Cost of goods sold 408,000 $ Selling and general expenses 238,000 Interest expense 9,500 79,000 Income tax expense 734,500 Total expenses 101,500 $ Net income 409,350 266,000 14,000 85,750 775,100 162,900 Print Done