a. Prepare a comparative Income statement with horizontal analysis, indicating the increase (decre for 2015 when compared with 2014. Round percentage answers to one decimal place. Boone Company Comparative Income Statement For the Years Ended December 31, 2045 and 2014 2015 2014 Increase (Decrease) Increase (Decrea Amount Amount Amount Percent $432,300 $330,000 $ 102,300 % Sales Cost of goods sold (361,200) (280,000) 81,200 % Gross profit $71,100 $50,000 21,100 % $(21,7) $(18,000) 3,780 % (19,350) (15,000) 4,350 % Selling expenses Administrative expenses Total operating expenses Income before Income tax $(41,130) $(33,000) 8,130 % $29,970 $17,000 12,970 % Income tax expense (12,000) (6,800) 5,200 % Net income $17,970 $10,200 7,770 % Feedback