Possible Prepare a horizontal analysis of the following comparative income statement of Bright Tutoring Inc. Round percentage changes to the nearest one-tenth percent E (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? Data Table Increasel(Decrease) 2020 2019 Amt. % $ 545,000 $ 471,000 Bright Tutoring Inc. Income Statement For the Years Ended December 31, 2020 and 2019 Net sales Expenses Cost of goods sold Selling and general expenses Interest expense 247,000 2020 2019 214,000 151,000 152.000 Net sales $ 545,000 $ 471,000 16,000 20,000 63,000 Wages expense 53,000 Total expenses 482,000 434.000 Expenses Cost of goods sold Selling and general expenses Interest expense Wages expense 247,000 152,000 Net income $ 63 000 $ 214,000 151,000 16,000 53,000 37,000 20,000 63,000 Net income increased by a much higher percentage than total revenues during 2020 because increased at a faster rate than did Total expenses 482,000 434,000 Enter any number in the edit fields and then continue to the next question Net income $ 63,000 $ 37,000 Print Type here to search Done Done ^ a 6:03 PM