1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y1 as the base year. Use the minus sign to indicate a decrease in the "Increase/(Decrease)" columns. If required, round percentages to one decimal place. Macklin Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 Increase/ Increase/ (Decrease) (Decrease) Line Item Description 20Y2 Amount Percent 20Y1 Sales $858,594 $712,000 Cost of goods sold (639,000) (450,000) Gross profit $219,594 $262,000 Selling expenses $(91,500) $(60,000) Administrative expenses (52,360) (38,000) Total operating expenses $(143,860) $(98,000) Operating income $75,734 $164,000 Other revenue 3,861 3,000 Income before income tax expense $79,595 $167,000 Income tax expense (22,300) (50,100) Net income $57,295 $116,900 $