Prepare a comparative income statement with horizontal analysis for the two-year period, using 2015 as the base year. Round to one decimal place.
Check Figure: Sales, 12.5% increase
To the extent the data permit, comment on the significant relationships revealed by the horizontal analysis prepared in (1).
For 2016, Clapton Company reported a decline in net income. At the end of the year, S. Hand, the president, is presented with the following condensed comparative income statement: