Prepare a comparative common-size income statement for Keesha Shoes Inc. using the 2014 and 2013 data of Exercise 18-2 and rounding percentages to one-tenth of a percent (three decimal places).

Data of Exercise 18-2

Prepare a horizontal analysis of the comparative income statement of Keesha Shoes Inc.  Round percentage changes to the nearest one-tenth percent (three decimal places).  Why was the percentage increase in net income higher than that in total revenue during 2014?

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KEESHA SHOES INC Income Statement For the Years Ended December 31, 2014 and 2013 2014 2013 $465,000 Net sales $533,000 Expenses Cost of goods sold Selling and general expenses Interest expense Wages expense 235,000 140,000 10,000 51,000 436,000 $97,000 202,000 135,000 6,000 41,000 384,000 81,000 Total expenses Net income