Answer Happy

Requirement 1. Prepare a horizontal analysis of the comparative income statement of Micatin Designs, Inc. Round percentage changes to one decimal place. (Round the percentages to one decimal place, X.X%. Use a minus sign or parentheses to indicate a decrease.) Micatin Designs, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 Net Sales Revenue Expenses: Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses $ $ 2024 430,000 $ 203,000 96,000 8,500 307,500 122,500 $ 2023 371,000 189,350 92,000 3,250 284,600 86,400 Increase (Decrease) Amount Percentage Net Income Requirement 2. Why did 2024 net income increase by a higher percentage than net sales revenue? Net income increased by a higher percentage than total net sales revenue during 2024 because % % % % % % Data table Micatin Designs, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 2024 Net Sales Revenue Expenses: Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses Net Income $ $ 2023 203,000 96,000 8,500 307,500 122,500 $ - X 430,000 $371,000 189,350 92,000 3,250 284,600 86,400