Data for Mariner Designs, Inc., follow:MARINER DESIGNS, INC.
Comparative Income Statement
Years Ended December 31, 2012 and 201120122011Net sales revenue:$431,000$372,350Expenses: Cost of goods sold$200,000$187,550 Selling and general expenses99,00091,050 Other expense8,3506,850 Total expenses$307,350$285,450Net income$123,650$86,900Requirements:1. Prepare a horizontal analysis of the comparative income statement of Mariner Designs, Inc. Round percentage changes to one decimal place.2. Why did 2012 net income increase by a higher percentage than net sales revenue?

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