This Question: 1 pt 7 of 13 (2 complete) Data for McClane Designs, Inc. follow: Click the icon to view the data.) Read the requirements Requirement 1. Prepare a horizontal analysis of the comparative income statement of McClane Designs, Inc. Round percentage changes to one decimal place. (Round the percentages to one decimal place, X.X%. Use a minus sign or parentheses to indicate a decrease.) Requirements x McClane Designs, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 Increase (Decrease) Amount Percentage 2018 2017 1. Prepare a horizontal analysis of the comparative income statement of McClane Designs, Inc. Round percentage changes to one decimal place. 2. Why did 2018 net income increase by a higher percentage than net sales revenue? Net Sales Revenue $ 431,250 $ 373,750 200,000 188.750 Expenses: Cost of Goods Sold Selling and Administrative Expenses Other Expenses Print Done % 96,000 9,150 94,000 6,850 305,150 Total Expenses 289,600 -X % Data Table $ 126,100 $ 84,150 Net Income Requirement 2. Why did 2018 net income increase by a higher percentage than net sales revenue? Net income increased by a higher percentage than total net sales revenue during 2018 because McClane Designs, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 $ 431,250 $ 373,750 revenues and expenses remained the same revenues increased at a higher rate than total expenses revenues increased at a lower rate than total expenses total expenses increased at a higher rate than revenues Net Sales Revenue Expenses Cost of Goods Sold 188,750 Selling and Administrative Expenses Other Expenses 200,000 96,000 9.150 94,000 6,850 Total Expenses 305,150 289,600 $ 126,100 $ Net Income 84,150