K Lost and Found Products, Inc., makes metal detectors and has the following comparative income statement: (Click the icon to view the comparative income statement.) Perform a horizontal analysis and a vertical analysis of the comparative income statement of Lost and Found Products, Inc. State whether 2021 was a good year or a bad year compared with 2020, and give your reasons Total revenues Expenses Lost and Found Products, Inc. Horizontal Analysis of Comparative Income Statements. Years Ended December 31, 2021 and 2020 Cost of goods sold Engineering, selling, and administrative expenses Interest expense Income tax expense Other expense (income) Total expenses $ rea $ 2021 2020 350,000 $325,000 217,000 221,000 73,500 74,750 8,125 13,000 4,200 24,500 9,800 329,000 (1,625) 315,250 21,000 $ 9,750 *** Increase (Decrease) Amount 25,000 Percent (4,000) (1,250) (3,925) 11,500 8,175 13,750 11,250 2 Net income "Lost and Found Products, Inc does not typically compute percentage changes for shifts from a negative to a % % % % % % %

iresins Lest and found Products, tinc. Than Endes December 31, avet and 2030