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This Next Question Amt. Prepare a horizontal analysis of the following comparative income statement of...

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This Next Question Amt. Prepare a horizontal analysis of the following comparative income statement of Bright Tutoring Inc. Round percentage changes to the nearest one-tenth percent (three decimal places); B (Click the icon to view the comparative income statement.) Why was the percentage increase in net income higher than that in total revenue during 2020? Increasel(Decrease) 2020 2019 % Net sales $ 545,000 $ 471,000 Expenses Cost of goods sold 247,000 214,000 Selling and general expenses 152,000 151,000 Interest expense 20.000 16,000 63,000 Wages expense 53,000 Total expenses 482,000 434,000 $ 63,000 $ 37.000 Net income Net income increased by a much higher percentage than total revenues during 2020 because increased at a faster rate than did Enter any number in the edit fields and then continue to the next

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