Prepare a horizontal analysis of the comparative income statement of Keesha Shoes Inc. (shown on the next page). 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 2017?

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KEESHA SHOES INC Income Statement For the Years Ended December 31, 2017 and 2016 2017 $533,000 2016 $465,000 Net sales 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