Prepare a horizontal analysis of the comparative income statements of Fashion Music Co.

Round percentage changes to the nearest one-tenth percent (three decimalplaces).

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Fashion Music Co. Comparative Income Statements Years Ended December 31, 2010 and 2009 2010 2009 $1,080,000 $919,000 Total revenue Expenses: Cost of goods sold Selling and general expenses Interest expense Income tax expense. Total expenses S 479,000 $400,450 289,000 269,000 14,500 86,850 899,000 770,800 $181,000 $148,200 24,500 106,500 Net income