Please show the solution.

2. Compute increase (decrease) in percent for both years 6 and 7 by entering all the missing data in the table below. Analyze and interpret any significant result revealed from this horizontal analysis. YEAR 5 Index YEAR 6 Change in Percent Index YEAR 7 Change in Percent 29% No. No. Statement Item Net sales... Cost of goods sold Gross profit... Operating expenses Income before tax Net income 139 126 Index No. 100 100 100 100 100 100 20 14 90 85 80 65 70 75 CHECK Year 6 net income percent, 33.3% 129