1:24 mathxl.com 71,000 $ 53,000 X Data Table McLaughlin Tutoring Inc. Income Statement For the Years Ended December 31, 2020 and 2019 2020 2019 Net sales $ 543,000 S 479.000 Expenses Cost of goods sold 253,000 216.000 Selling and general expenses 146,000 141.000 Interest expense 22.000 20.000 Wages expense 51,000 49.000 472.000 Total expenses 426,000 $ 71,000 $ 53.000 Net income Print Done + .. 1:24 mathxl.com Prepare a horizontal analysis of the following comparative income statement of Meciughlin Tate percent (three decimal places Click the icon to view the comparative income statement) Why was the percentage increase in net income higher than that in total revenue during 20207 Show McLaughin's horizontal analysis of net sales and expenses. (Round percentages to me McLaughlin Tutoring the Horizontal Analysis of Comparative Income Statement For the Years Ended Dember 31, 2009 and 2019 Increase Decrease 2020 2019 Amt Net als $ 543.000 47.000 Expenses Cost of goods sold 253.000 216.000 Seling and general expenses 146.000 141.000 Interest expense 22.000 20.000 Wages expense 51.000 49.000 472.000 425.000 Tetail expenses 71.000 53.000 Net income +