Financial statement analysis: Horizontal analysis Powell any had the following income statement to be used in horizontal analysis: Sales Cost of Goods Sold 2019 2018 $ 1,100,000 $ 1,000,000 495,000 500,000 605,000 500,000 459,800 400,000 Gross Profit 145.200 100,000 Operating Expenses Income Before Taxes Income Tax Expense Net Income 58.080 40,000 $ 87,120 $ 60.000 Required: Examine income before taxes and compute the following. Indicate for each whether the change is an increase or a decrease: 1. Compute the change in dollar amount from 2018 to 2019. 2. Compute the percentage change from 2018 to 2019. Round your answer to two decimal places. Explanation Check Calculator 9 ALERS- Anna Bagan Q Search for anything hp