Clipboard Font Alignment M12X fx EC-13 Performing horizontal analysis-income statement Data for Mulberry Designs, Inc. is as follows: RYDEDOK N Comparati come utement Year Ended December 1, 2013 and 2007 Requirements 1 Prepare a horizontal analysis of the comparative income statement of Mulberry Designs, Inc. Round percentage changes to one decimal place. 2. Why did 2018 net income increase by a higher percentage than net sales revenue? Requirement 1 MULBERRY DESIGNS, INC. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 Amount Percentage Net Sales Revenue Expenses Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses Net Income Requirement 2 ne statement MULBERRY DESIGNS, INC. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 $ 431,000 $372,350 Net Sales Revenue Expenses Cost of Goods Sold 203,850 186,000 Selling and Administrative Expenses 99,000 93,250 9,000 4,650 Other Expenses Total Expenses 311,850 283,900 Net Income $ 119,150 $ 88,450 mparative income statement of Mulberry De