The income statements for Urban Outfits, Inc. are presented below: Urban Outfits, Inc. Income Statements Year Ended December 31 Current Year Sales Revenue $776,559 Cost of Goods Sold 385, 641 Gross Profit 390,918 Operating and Other Expenses 133,814 Interest Expense 7,300 Income Tax Expense 43,800 Net Income $206,004 Prior Year $721,842 355, 743 366,099 123, 460 14,200 42,700 $185, 739 Required: Prepare a horizontal analysis of the income statement above. (Round your answers to the nearest whole percent. Enter any decreases with a minus sign.) URBAN OUTFITS, INC Income Statements Year Ended December 31 Increase (Decrease) Prior Year Amount Percent (%) Current Year $ 776,559 Sales Revenue Cost of Goods Sold $721,842 355,743 385,641 390,918 Gross Profit 133,814 7,300 Operating and Other Expenses Interest Expense Income Tax Expense Net Income 366,099 123,460 14,200 42,700 $ 185,739 43,800 $ 206,004