The income statements for Urban Outfits, Inc. are presented below. Prepare a horizontal analysis of the income statement above

The income statements for urban Outfits, Ine are presented below urban Outfits, lnc Income Statements Year Ended December 31 Sales revenue Cost of goods sold Gross profit Operating and other expenses Interest expense Income tax expense Net income Current Year 346,862 362,266 120,440 12,300 40,700 $188,826 Prior Year $761,559 376,667 384 ,sg2 130,1ga 7,050 41 $206,046 Prepare a horizontal analysis of the income statement above (Round your answers tothe nearest whole percent.) Sales Revenue Cost of Goods Sold Gross Profit Income Statements Year Ended December 31 Operating and Other Expenses Interest Expense Income Tax Expense Net Income Current S 70g,128 S 346,862 362 120,440 12,300 40,700 188,826 Increase (Decrease) ior Ye 761,55g 376,667 384,8g2 130,1ga 41 206,046