M&M Manufacturing Has Provided the Following Comparative Income Statements Required:

Prepare a Horizontal Analysis of M&M’s 2014 Income

M&M Manufacturing has provided the following comparative income statements:
$$\begin{array}{lrrr}& \underline{2012} & \underline{2013} & \underline{2014} \\\text{Net sales} & \$120,000 & \$132,000 & \$136,000 \\\text{Cost of goods sold} & \underline{62,000} & \underline{68,000} & \underline{72,000} \\\text{Gross margin} & 58,000 & 64,000 & 64,000 \\\text{Selling and administrative expenses} & 24,000 & 26,000 & 36,000 \\\text{Depreciation} & \underline{4,000} & \underline{6,000} & \underline{8,000} \\\text{Operating profit} & 30,000 & 32,000 & 20,000 \\\text{Income taxes} & \underline{10,000} & \underline{8,000} & \underline{5,000} \\\text{Net income} & \underline{\underline{\$ 20,000}} & \underline{\underline{\$ 24,000}} & \underline{\underline{\$ 15,000}} \\\end{array}$$
Required:

Prepare a horizontal analysis of M&M’s 2014 income statement.