Prepare a horizontal analysis of the following comparative income statement of Smart Tutoring inc. Round percentage changes to the nearest one-onth 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 2020? Show Smart's horizontal analysis of riot sales and expenses. (Round percentages to one decimal place) Smart Tutoring inc. Income Statement For the Years Ended December 31, 2020 and 2019 2020 2019 Net sales $ 537,000 $ 475,000 241,000 220,000 Expenses Cost of goods sold Selling and general expenses Interest expense 158,000 147,000 Wages expense 16,000 12,000 55,000 51,000 470,000 430,000 Total expenses Net income $ 67,000 $ 45,000 Increase/(Decrease) Amt. % 2020 2019 $ 537,000 $ 475,000 Net sales Expenses Cost of goods sold Selling and general expenses Interest expense Wages expense 220,000 147,000 241,000 158,000 16,000 55,000 12,000 51,000 Total expenses 470,000 430,000 67,000 $ 45,000 INet income $ Enter any number in the edit fields and then continue to the next question Nincome 5 67.000 45.000 Not income increased by a much higher percentage than total revenues during 2020 because ressed at a tastercabethan did Enter her in the