WileyPLUS Problem 14-4 (Part Level Submission) The following is the comparative income statements for Benton Corporation. BENTON CORPORATION Income Statement Year Ended December 31 2018 2017 Net sales $592,000 $ 510,000 Cost of goods sold 485,000 443,000 Gross profit 107,000 67,000 Operating expenses 79,000 43,000 Income before income tax 28,000 24,000 Income tax expense 5,400 3,600 Net income $ 22,600 $ 20,400 (a) Prepare a horizontal analysis of the income statement, calculating the percentage change between 2018 and 2017. (Round percentage to 1 decimal place, e.g. 5.2%. Enter negative answers using either a negative sign preceding the number e.g. -45 or -45.1% or parenthesis e.g. (45) or (45.1%). BENTON CORPORATION Income Statement Year Ended December 31 Increase or (Decrease) During 2018 2018 2017 Amount Percentage Net sales $592,000 $510,000 $ % Cost of goods sold 485,000 443,000 % Gross profit 107,000 67,000 % Operating expenses 79,000 43,000 % Income before income tax 28,000 24,000 % Income tax expense 5,400 3,600 % Net income $22,600 $20,400 $ %