For 20Y3, Greyhound Technology Company reported its most significant decline

For 20Y3, Greyhound Technology Company reported its most significant decline in net income in years. At the end of the year, Duane Vogel, the president, is presented with the following condensed comparative income statement:

For 20Y3, Greyhound Technology Company reported its most significant decline


Instructions
1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y2 as the base year. Round to one decimal place.
2. Comment on the significant relationships revealed by the horizontal analysis prepared in (1).

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