XYZ Ltd reported the following financial data over a three-year period. 2016 2017 2018 Income Gross profit Other expenses $453 100 290 200 150 000 $460 200 292 800 190 400 $500 600 320 800 160 200 Required: 1) Prepare a horizontal analysis of the data using 2016 as the base year. (3 Marks) 2) Discuss whether the trends signify a favourable or unfavourable situation. (2 Marks)