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?

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