Vertical and Horizontal Analysis Assignment 1) The income statements for Mavis Manufacturing Inc. are provided for two recent years. 2022 Revenue Cost of goods sold Gross profit Expenses $ 850,000 $ 2021 750,000 340,000 300,000 510,000 450.000 Salaries 221,000 165,000 Amortization expense Other operating expenses Total operating expenses 37,500 37,500 161,500 142.500 420,000 345.000 Income from operations Interest expense 90,000 105,000 (15,000) (15,000) Income tax expense (22.500) (27.000) Net income $ 52,500 $ 63.000 (a) Using the above information to prepare a vertical analysis for Mavis. (b) Using the analysis completed in part (a), identify the reason for Davis's decreasing net income at the same time that revenue is increasing