The following is the comparative statement of income for Dynatech Corporation: DYNATECH CORPORATION Statement of Income Year Ended December 31 2022 Sales $ 592,000 Cost of goods sold 454,656 Gross profit 137,344 Operating expenses 76,960 Income before income tax 60,384 Income tax expense 5,920 Net income $ 54,464 2021 $ 515,000 447,020 67,980 46,865 21,115 4,120 $ 16,995 (a) Prepare a horizontal analysis of the statement of income, calculating the percentage change between 2022 and 2021. (Round percentages to 1 decimal place, e.g. 5.2%. Enter negative answers using either a negative sign preceding the number e.g.-45 or -45.1% or parenthesis e.g. (45) or (45.1%). DYNATECH CORPORATION Statement of Income Year Ended December 31 Increase or (Decrease) During 2022 2021 Amount Percentage 2022 Sales $ % $592,000 $515,000 Cost of goods sold 454,656 447,020 Gross profit % 137,344 67,980 Operating expenses 76,960 46,865 Income before income tax % 60,384 21,115 Income tax expense 5,920 4,120 Operating expenses % 76,960 46,865 Income before income tax 60,384 21,115 Income tax expense % 5,920 4,120 Net income $ $ % $54,464 $16,995 e Textbook and Media Save for Later Attempts: 0 of 3 used Submit