The comparative income statements of Sensible Music Co follow Click the icon to view the comparative Income statements.) JAM SCH 9.4 Requirement Prepare a horizontal analysis of the comparative income statements of Sensible 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%.) ch 2.pdf ick 11 Scre 19-0 Sensible 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 X Selling and general expenses 285.000 261,000 Interest expense 22,500 12,500 % Income tax expense 104,500 12.150 Total expenses 387,000 761,000 188,000 $ 153,100 Net income nge pdf Sere 9-03 V Lod Se Sensible Music Co. Comparative Income Statements Years Ended December 31, 2018 and 2017 2017 2018 $ 1,075,000 $ Total revenue 915,000 Expenses: Cost of goods sold Selling and general expenses Interest expense 475,000 $ 285,000 22,500 104,500 406,250 261,000 12,500 82,150 Income tax expense Total expenses 887,000 761,900 $ Net income 188,000 $ 153, 100