- Exercises EC-13 Performing horizontal analysis-income statement Data for Mulberry Designs, Inc. follow MULBERRY DESIGNS, INC. Comparative Income Statement Years Ended December 31, 2018 and 2017 2017 2018 $372,350 $ 431,000 Net Sales Revenue Expenses: 186,000 203,850 Cost of Goods Sold 99,000 93,250 Selling and Administrative Expenses 4,650 9,000 Other Expenses 283,900 311,850 Total Expenses $ 88,450 $ 119,150 Net Income 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