Data for Sherwood,Inc Prepare a Horizontal Analysis of the Comparative Income Statement of Are

Essay

Data for Sherwood,Inc.for the years ended December 31,2019 and 2018 are as follows:
$$\begin{array} { l l l } & \underline { 2019 } & \underline { 2018} \\\text { Net Sales }& \$ 850,000 & \$ 798,000 \\\text { Cost of Goods Sold } & 635,000 & 580,000 \\ \text { Selling and Administrative Expenses } & 50,000 & 35,000 \\\text { Other Expenses (Interest Expense) } & 20,000 & 15,000 \\\text { Income Tax }& 40,000 & 55,000\end{array}$$ Prepare a horizontal analysis of the comparative income statement of Sherman,Inc.(Round to one decimal place.)Use a multi-step income statement.