UUUU Coot of Gooda Sold Selling, and Administrative Expenso Other Expenses Income Tax 635.000 50,000 20,000 40,000 580,000 35,000 15,000 55,000 Prepare a horizontal analysis of the comparative income statement of Sherman, Inc. (Round to one decimal place.) Use a multi-step income statement Text Style T. AA BI V A - Sherman, Inc Comparative Income Statement For the year ended 2016 2017 Amount Net Sales $850,000 Cost of goods sold $635,000 Gross Profit (a) 5215,000 Selling and Administrative Expenses $50,000 Total operating expenses (b) $50,000 Operating Income (a-b) $165,000 Other Expenses $20,000 Income before income taxes $145,000 Income tax expense $40.000 Net Income S105,000 Net Income is decreased by $8,000 in 2017, because Word count 62 Lost Soved 9:59:33 PM UUUU Coot of Gooda Sold Selling, and Administrative Expenso Other Expenses Income Tax 635.000 50,000 20,000 40,000 580,000 35,000 15,000 55,000 Prepare a horizontal analysis of the comparative income statement of Sherman, Inc. (Round to one decimal place.) Use a multi-step income statement Text Style T. AA BI V A - Sherman, Inc Comparative Income Statement For the year ended 2016 2017 Amount Net Sales $850,000 Cost of goods sold $635,000 Gross Profit (a) 5215,000 Selling and Administrative Expenses $50,000 Total operating expenses (b) $50,000 Operating Income (a-b) $165,000 Other Expenses $20,000 Income before income taxes $145,000 Income tax expense $40.000 Net Income S105,000 Net Income is decreased by $8,000 in 2017, because Word count 62 Lost Soved 9:59:33 PM