Two income statements for Paragon Company follow:

Paragon Company

Income Statements

For the Years Ended December 31

20Y9 20Y8

Fees earned $1,439,000 $1,170,000

Expenses (1,034,000) (920,000)

Net income $405,000 $250,000

Prepare a horizontal analysis of Paragon Companys income statements. Round your answers for monetary values to the nearest dollar and for percentage values to one decimal place.

Paragon Company

Income Statements

For the Years Ended December 31

Increase/(Decrease)

20Y9 20Y8 Amount Percent

Fees earned $1,439,000 1,170,000 $ %

Expenses (1,034,000) (920,000) %

Net income $405,000 $250,000 $ %