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The income statements for Urban Outfits, Inc. are presented below: ...

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Accounting

The income statements for Urban Outfits, Inc. are presented below:

Urban Outfits, Inc.
Income Statements
Year Ended December 31
Current Year Prior Year
Sales revenue $ 721,842 $ 776,559
Cost of goods sold 355,743 385,641
Gross profit 366,099 390,918
Operating and other expenses 123,460 133,814
Interest expense 14,200 7,300
Income tax expense 42,700 43,800
Net income $ 185,739 $ 206,004

Prepare a horizontal analysis of the income statement above. (Round your answers to the nearest whole percent.)

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