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> Exercises E17-15 Performing horizontal analysis-income statement Data for McCormick Designs, Inc. follow: MCCORMICK DESIGNS, INC. Comparative Income Statement Years Ended December 31, 2016 and 2015 2016 2015 $ 431,250 373,000 Net Sales Revenue Expenses 202,000 Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses 100,050 8,000 310,050 s 121,200 189,000 92,550 2,150 283,700 89,300 Net Income Requirements 1. Prepare a horizontal analysis of the comparative income statement of McCormick Designs, Inc. Round percentage changes to one decimal place 2. Why did 2016 net income increase by a higher percentage than net sales revenue E17-16 Computing trend analysis Grand Oaks Realty's net revenue and net income for the following five-year pe using 2013 as the base year, follow