The income statements for Urban Outfits, Inc. are presented below. Urban Outfits, Inc. Income Statements Year Ended December 31 Current Year Prior Year Sales revenue $821,559 $ 759,984 Cost of goods sold 412,563 382, 386 Gross profit 408,91 577,598 Operating and other expenses 144,665 132,520 Interest expense 8,60 19,900 Income tax expense 50,4 48.700 Net Income $205,928 5176,478 Prepare a horizontal analysis of the income statement above. (Enter your answers to the nearest whole percent (ie, enter 0.12 as URBAN OUTFITS, INC Income Statements Year Ended December 31 Increase Decrease Amount Percent (1) 412.500 Sales Revenue Cost of Goods Sold Gross Profit Operating and Other Expenses Interest Expense Income Tax Expense Net income Current Year Prior Year 5821559 $750.964 2386 400996 377 588 14465 132 520 8000 19.000 50.400 48.700 175.478 ere to search O LM G 6