eBook Show Me How For 2012, Mackle the reported a significant decrease in net income. At the end of the year. John Mayer, the president, is presented with the following condensed comparative Income statement Macklin Inc. Comparative Income Statement For the Year Ended December 31, 2012 and 2071 2012 2011 Sales $333,144 $294,000 Cost of goods sold (243,200) (190,000) Gross profit 589,944 $104,000 Selling expenses $(33,750) 5425,000) Administrative expenses (20,030) (16,000) Total operating expenses $(53,780) $(41,000) Operating income $36,164 $63,000 Other revenue 1,519 1,200 Income before income tax expense $37,683 $64,200 Income tax expense (10,600) (19,300) Net Income $27,083 544,900 Required: 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 2071 as the bese year. Use the minut sign to indicate a decrease in the "Increase/Decree columns. If required, round percentages to one decimal place Macklin Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2011 Check My W eBook re Show Me How 1. Prepare a comparative Income statement with horizontal analysis for the two-year period, using 2041 as the base year. Use the minus sign to indicate a decrease in the "Increase/Decrease) columns. If required, round percentages to one decimal place. Macklin Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 2041 Increase/ Increase/ (Decrease) (Decrease) 2012 2011 Amount Percent Sales $333,144 $294,000 Cost of goods sold (243,200) (190,000) Gross profit $59,944 $104,000 Selling expenses 5/33,750) 5125,000) Administrative expenses (20,030) (16,000) Total Operating expenses $(53,780) (41,000) Operating income $36,164 563,000 Other revende 1,519 1,200 Income before income tax expense $37,683 $64,200 Income tax expense (10,600) (19,300 Net income $27,083 $44,900 Frames