D-46 Appendix D > Exercises Learning Objective 2 ED-15 Performing horizontal analysis income statement Data for McCormick Designs, Inc. follow: 1. Net income 35.7% MCCORMICK DESIGNS, INC. Comparative Income Statement Years Ended December 31, 2016 and 2015 2016 2015 Net Sales Revenue 431,250 373,000 Expenses: Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses 202,000 100,050 8,000 310,050 $121,200 89,000 92,550 2,150 283,700 89,300 2 Net Income Requirements 1. Prepare a horizontal analysis of the comparative income statement of McCormick Designs, Inc. Round percentage changes to one decimal place. than net sales revenue