Enter your search term Prepare a horizontal analysis of the following comparative income statement or The Enchanted Group. (Click the icon to view the comparative income statement.) Why did net income increase by a higher percentage than net sales revenue during 2020? DIREK ishy Show Enchanted's horizontal analysis of net sales and expenses. (Round the percentages to the nearest hundredth percent.) ang The Enchanted Group Horizontal Analysis of Comparative Income Statements Years Ended December 31, 2020 and 2019 OUS. famounts in thousands) 2020 2019 et even Increase I (Decrease) Amount Percent 65,208 % Sales revenues $ 429,000 494,208 $ 172,640 Net In 160,000 12,640 % Less: Cost of goods sold Gross profit 269,000 52,568 % 321,568 $ 143,370 135,000 8,370 % Increa Less: Operating expenses Operating income $ 178,198 $ 134,000 44,198 % Net Reveni Help me solve this Video Get more help Clear all Net In Data table Enter your search term X A B 1 The Enchanted Group 2. Income Statement 3 For the Years Ended December 31, 2020 and 2019 4 (amounts in thousands) 5 2020 2019 6 Sales revenues $ 494,208 $ 429,000 7 Less: Cost of goods sold 172,640 160,000 8 Gross profit $ 321,568 $ 269,000 9 Less: Operating expenses 143,370 135,000 Print Done Enter your search term epare a horizontal analysis of the following comparative income staement of The Enchanted Group. (Click the icon to view the comparative income statement.) Why did net income increase by a higher percentage than net sales revenue during 2020? amounts in thousands) Increase / (Decrease) 2020 2019 Amount Percent $ Sales revenues 65,208 % 494,208 $ | 172,640 429,000 160,000 12,640 % Less: Cost of goods sold Gross profit 52,568 % 321,568 $ 143,370 269,000 135,000 8,370 % Less: Operating expenses Operating income 44,198 % 178,198 $ 7,500 134,000 6,000 Less: Interest expense % Income before income taxes $ % 170,698 $ 33,990 128,000 24,000 Less: Income tax expense % 136,708 $ 104,000 ea! Net income % ven Help me solve this Video Get more help Cle et ini