Question: For 20y2, Macklin Inc. reported a significant decrease in net income. At the end of the year, John Mayer, the president, is presented with the


For 20y2, Macklin Inc. reported a significant decrease in net income. At the end of the year, John Mayer, the president, is presented with the following condensed comparative income statement: 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y1 as the base year, Use the minus sign to indicate a decrease in the "tncrease/(Decrease)" columns. If required, round percentages to one decimal place. 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20y1 as the base year, Use the minus sign to indicate a decrease in the "Increase/(Decrease)" columas. If required, round percentages to one decimal place. 2. Net income has from 20y1 to 20y2. Sales have ; however, the cost of goods sold has at a fester rate than sales, causing the gross profit to
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