The comparative income statements of Outdoor Music Co. follow: (Click the icon to view the comparative income statements.) Requirement Prepare a horizontal analysis of the comparative income statements of Outdoor 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%.) Outdoor Music Co. Horizontal Analysis of Comparative Income Statements Years Ended December 31, 2018 and 2017 Increase (Decrease) 2018 2017 Amount Percentage Total revenue $ 1,077,000 $ 917,000 % Expenses: Cost of goods sold 477,000 408,750 % Selling and general expenses 287,000 267,000 % Interest expense 23,500 13,500 % Income tax expense 105,500 84,650 % Total expenses 893,000 773,900 % $ 184,000 $ 143,100 Net income % 1 Data Table Outdoor Music Co. Comparative Income Statements Years Ended December 31, 2018 and 2017 2018 2017 Total revenue $ 1,077,000 $ 917,000 $ 477,000 $ 408,750 Expenses: Cost of goods sold Selling and general expenses Interest expense 287,000 267,000 23,500 105,500 13,500 84,650 Income tax expense Total expenses 893,000 773,900 Net income $ 184,000 $ 143,100