Prepare a comparative income statement with horizontal analysis for the two-year period, using 2011 as the base yovar. Use the minus sign to indicate an amount or percent decrease. If required, round percentages to one decimal place McDade Company Comparative Income Statement For the Years Ended December 31, 2072 and 2041 Increase Increase (Decrease) (Decrease) 2012 2011 Amount Percent EL Income Statement Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 Increase (Decrease) Amount Increase (Decrease) 2012 20Y1 Percent Sales 57,369,600.00 2.719.733.00 $6,580,000.00 2,193,333.00 Cost of goods sold Gross profit 54,649,867.00 $4,386,667.00 Selling expenses $1,049,600.00 $820.000.00 7 Administrative expenses 658,050.00 535,000.00 Income Statement 5 $4,386,667.00 $4,649,867.00 Gross profit Selling expenses $1,049,600.00 $820,000.00 535,000.00 Administrative expenses 658,050.00 Total operating expenses $1,707,650.00 51.355,000.00 Income from operations $2,942,217.00 $3,051,667.00 10 Other income 132,000.00 120,000.00 11 Income before income tax $3.074.217.00 47,600.00 12 Income tax expense $3,151.667.00 40,000.00 $3.111,667.00 15 Net income $3,026,617.00 To the extent the data permit, comment on the significant relationships revealed by the horizontal analysis prepared in (1) Net income has from 20Y1 to 2012. Sales have percentage, causing the gross profitto pace than sales, causing net income to however, the cost of goods sold has by a at a slower pace than sales. In addition, total operating expenses have