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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

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 $ 815,059 $ 754,127
Cost of goods sold 407,176 377,091
Gross profit 407,883 377,036
Operating and other expenses 142,409 130,644
Interest expense 7,800 18,800
Income tax expense 49,200 47,500
Net income $ 208,474 $ 180,092

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

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