Exercise $12-3($Algo$)$ Prepare horizontal analysis $($LO$12-2)$

The income statements for Federer Sports Apparel for $2025$ and $2024$ are presented below.

Required:

Prepare a horizontal analysis for $2025$ using $2024$ as the base year. $($Decreases should be indicated with a minus sign. Round your percentage answers to $1$ decimal place.$)$

$\backslash$table$[[$FEDERER SPORTS APPAREL$],[$Income Statement$],[$For the Years Ended December $31],[,$Year,Increase $($Decrease$)],[,,2025,,2024,$Amount,$\%],[$Net sales,$$,18,400,000,,15,100,000,,],[$Cost of goods sold,,$13,358,400,,6,764,800,,],[$Gross profit,,$5,041,600,,8,335,200,,],[$Operating expenses,,$1,490,400,,1,102,300,,],[$Depreciation expense,,$901,600,,901,600,,],[$Inventory write$-$down,,$128,800,,,,],[$Loss $($litigation$),,1,398,400,,347,300,,],[$Income before tax,,$1,122,400,,5,984,000,,],[$Income tax expense,,$368,000,,1,887,500,,],[$Net income,$$,754,400,,4,096,500,,]]$