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		$	785,412			$	851,559
Cost of goods sold			400,148				430,511
Gross profit			385,264				421,048
Operating and other expenses			138,560				151,904
Interest expense			23,700				8,450
Income tax expense			52,700				54,800
Net income		$	170,304			$	205,894

Prepare a horizontal analysis of the income statement above. (Enter your answers to the nearest whole percent (i.e., enter 0.12 as 12.))

URBAN OUTFITS, INC Income Statements Year Ended December 31 Increase (Decrease) Current Prior Year Amount Year Percent (%) Sales Revenue $ 785,412 5851,559 Cost of Goods Sold 400, 148 430,511 Gross Profit 385,264 421,048 Operating and Other Expenses 138,560 151,904 Interest Expense 23,700 8,450 Income Tax Expense 52.700 54,800 Net Income 170,304 205,894