Exercise 13-6 (Part Level Submission) Here are the comparative income statements of Blue Spruce Corp.. BLUE SPRUCE CORP Comparative Income Statement For the Years Ended December 31 2017 2016 Net sales Cost of goods sold Gross Profit Operating expenses Net income $644,500 457,600 186,900 77,100 $109,800 $557,200 400,400 156,800 48,100 $ 108,700 (a) Prepare a horizontal analysis of the income statement data for Blue Spruce Corp, using 2016 as place, e.g. 12.196.) BLUE SPRUCE CORP. Comparative Income Statement For the Years Ended December 31 Increase or (Decrease) During 2017 2017 2016 Amount Percentage Net sales Cost of goods sold 457,600400,400 Gross Profit Operating expenses77,10048,100 $644,500 $557,200 87300 16.9 % 57200 186,900156,800 Net income $109,800 $108,700 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT VIDEO: APPLIED SKILLS VIDE