Question: Data for Kahn, Inc. follows: Kahn, Inc. Comparative Income Statement Years Ended Dec. 31, 2019 and 2018 2019 2018 Net Sales Revenue $550,000 $500,000 Expenses:

Data for Kahn, Inc. follows:

Kahn, Inc.

Comparative Income Statement

Years Ended Dec. 31, 2019 and 2018

2019 2018

Net Sales Revenue $550,000 $500,000

Expenses:

Cost of Goods Sold 245,000 220,000

Selling and Administrative Expenses 100,000 96,000

Other Expenses (Interest Expense) 12,000 9,000

Income Tax Expense 58,000 47,000

Total Expenses $415,000 $372,000

Net Income $135,000 $128,000

Prepare a horizontal analysis of the comparative income statement of Kahn, Inc. (Round to one decimal place.) Use a multi-step format for the income statement?

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