Question 2 of 5 < > Current Attempt in Progress Here are the comparative condensed income statements of Sheffield Corporation. Sheffield Corporation Condensed Income Statements For the Years Ended December 31 2022 2021 Net sales $768,000 $645,000 Cost of goods sold 599,040 520,515 Gross profit 168,960 124.485 Operating expenses 105,216 62,340 Net income $63,744 $62,145 (a) -/1 Prepare a horizontal analysis of the income statement data for Sheffield Corporation, using 2021 as a base (Show the amounts of increase or decrease) (Enter negative amounts and percentages using either a negative sign preceding the number eg-45,-45% or parentheses eg. (45), (45%). Round percentages to 1 decimal place, eg 12.3%) SHEFFIELD CORPORATION Condensed Income Statements December 31 Increase or (Decrease) During 2022 Percentage 2022 2021 Amount Net sales $768.000 $645,000 $ Cost of goods sold 599.040 520.515 % Gross profit 168,960 124.485 % % Operating expenses 105.216 62.340 % Net income $63,744 $62.145 $ %