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The comparative income statements of McMahon Music Co. follow: (Click the icon to view the...

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The comparative income statements of McMahon Music Co. follow: (Click the icon to view the comparative income statements.) Requirement 1. Prepare a horizontal analysis of the comparative income statements of McMahon Music Co. Round percentage changes to the nearest one-tenth percent. (Use a minus sign or parentheses for decreases. Round percentage changes to the nearest one-tenth percent, X.X%.) Data Table McMahon Music Co. Horizontal Analysis of Comparative Income Statements Years Ended December 31,2016 and 2015 Increase (Decrease) Amount Percentage McMahon Music Co. Comparative Income Statements Years Ended December 31, 2016 and 2015 2016 2015 Total revenue $844,000 $ 934,000 2016 2015 Expenses: Total revenue S 844,000 S 934,000 Cost of goods sold Selling and general expenses Interest expense Income tax expense Total expenses 404,000 400,000 234,000 263,00O 9,300 12,000 86,000 731,300 761,000 $ 112,700 173,000 Expenses S 404,000 S400,000 Cost of goods sold Selling and general expenses Interest expense Income tax expense Total expenses 234,000 9,300 84,000 731,300 263,000 12,000 86,000 761,000 84,000 Net income S 112,700 S 173,000 Net income Print Done Enter any number in the edit fields and then click Check

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