The income statements for Federer Sports Apparel for 2019 and 2018 are presented below Required Prepare a horizontal analysis for 2019 using 2018 as the base year. (Decreases should be indicated with a minus sign. Round your percentage answers to 1 decimal place.) FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 Year Increase (Decrease) Amount 2019 2018 Net sales 19,300,000 16,000,000 7,312,000 8,688,000 1,312,000 1,119,400 12,969,600 6,330,400 1,737,000 1,119,400 308,800 1640,500 1,524,700 559,700 Cost of goods sold Gross profit Operating expenses Depreciation expense Loss (litigation) 384,000 5,872,600 2,144,000 $965,000 3,728,600 Income before tax Income tax expense Net income