Lewis Company has a condensed income statement as shown below. 
RequiredPrepare a horizontal analysis of Lewis Company's income statements. Comment on the trends, both favorable and unfavorable.
Definitions:
Bullfighting
A traditional spectacle of certain countries, notably Spain and Mexico, in which one or more bulls are fought in a bullring.
Incorporate Transition
The process of smoothly integrating changes or developments into existing structures or systems.
Pronoun
A word used in place of a noun or noun phrase to avoid repetition and to refer to individuals without naming them.
Downplay
To make something appear less important or less significant than it actually is.
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