Data for Kahn,Inc $$\begin{array} { l l l } & 2019 & 2018 \\\text { Net Sales Reverue } & \$ 550,000 & \$ 500,000\end{array}$$

Essay

Data for Kahn,Inc.follows:
Kahn, Inc.
Comparative Income Statement
Years Ended Dec. 31, 2019 and 2018
$$\begin{array} { l l l } & 2019 & 2018 \\\text { Net Sales Reverue } & \$ 550,000 & \$ 500,000\end{array}$$ Expenses:
$\begin{array}{lll}\text { Cost of Goods Sold } & 245,000 & 220,000 \\\text { Selling and Administrative Expenses } & 100,000 & 96,000 \\\text { Other Expenses (Interest Expense) } & 12,000 & 9,000 \\\text { Income Tax Expense } & \underline{58,000} & \underline{47,000} \\\text { Total Expenses } & \underline{\$ 415,000} & \$ 372,000 \\\text { Net Income } & \$ 135,000 & \$ 128,000\end{array}$
Prepare a horizontal analysis of the comparative income statement of Kahn,Inc.(Round to one decimal place.)Use a multi-step format for the income statement.