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 "Difference" columns. If required, round to one decimal place. McDade Company Comparative Income Statement For the Years Ended December 31, 20Y2 and 2041 2042 2041 Difference - Amount Difference - Percent Sales $534,480 $446,000 $ Cost of goods sold 392,000 280,000 Gross profit $142,480 $166,000 $ Selling expenses $57,000 $38,000 Administrative expenses 32,640 24,000 Total operating expenses $89,640 $62,000 Income from operations $52,840 $104,000 $ Other income 2,337 1,900 Income before income tax $55,177 $105,900 $ Income tax expense 15,400 31,800 Net income $39,777 $74,100 $ from 20Y1 to 2012. Sales have ; however, the cost of goods sold has 2. Net income has causing the gross profit to