The income statements for Urban Outfits, Incorporated are presented below: Urban Outfits, Incorporated Income Statements Year...

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The income statements for Urban Outfits, Incorporated are presented below: Urban Outfits, Incorporated Income Statements Year Ended December 31 Current Year Prior Year Sales Revenue $ 731,559 $ 683,700 Cost of Goods Sold 358,719 329,100 Gross Profit 372,840 354,600 Operating and Other Expenses 122,960 114,400 6,600 8,500 37,200 36,700 Interest Expense Income Tax Expense Net Income Required: $ 206,080 $ 195,000 Prepare a horizontal analysis of the income statement above. (Round your answers to the nearest whole percent. Enter any decreases with a minus sign.) URBAN OUTFITS, INCORPORATED Income Statements Year Ended December 31 Sales Revenue Cost of Goods Sold Gross Profit Operating and Other Expenses Interest Expense Income Tax Expense Net Income Increase (Decrease) Current Year Prior Year Amount Percent (%) $731,559 $683,700 358,719 329,100 372,840 354,600 122,960 114,400 6,600 8,500 37,200 36,700 $206,080 $195,000 The income statements for Urban Outfits, Incorporated are presented below: Urban Outfits, Incorporated Income Statements Year Ended December 31 Current Year Prior Year Sales Revenue $ 731,559 $ 683,700 Cost of Goods Sold 358,719 329,100 Gross Profit 372,840 354,600 Operating and Other Expenses 122,960 114,400 6,600 8,500 37,200 36,700 Interest Expense Income Tax Expense Net Income Required: $ 206,080 $ 195,000 Prepare a horizontal analysis of the income statement above. (Round your answers to the nearest whole percent. Enter any decreases with a minus sign.) URBAN OUTFITS, INCORPORATED Income Statements Year Ended December 31 Sales Revenue Cost of Goods Sold Gross Profit Operating and Other Expenses Interest Expense Income Tax Expense Net Income Increase (Decrease) Current Year Prior Year Amount Percent (%) $731,559 $683,700 358,719 329,100 372,840 354,600 122,960 114,400 6,600 8,500 37,200 36,700 $206,080 $195,000

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