The income statements for Urban Outfits, Incorporated

Urban Outfits, Incorporated Income Statements Year Ended December 31
	Current Year	Prior Year
Sales Revenue	$ 866,559	$ 798,126
Cost of Goods Sold	439,485	409,029
Gross Profit	427,074	389,097
Operating and Other Expenses	155,522	141,580
Interest Expense	8,700	25,600
Income Tax Expense	57,000	54,700
Net Income	$ 205,852	$ 167,217

Required:

Prepare a horizontal analysis of the income statement above. (Round your percentage answers to 2 decimal places. Enter any decreases with a minus sign.)

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