Problem 1 - Dade Company Comparative Income Statements For the years ended 12/31/21 and 12/31/20 12/31/21 12/31/20 Sales 168,000 150,000 Cost of goods sold (115,000) (100,000) Gross profit 53,000 50,000 Operating expenses (29,900) (25,000) Net Income 23,100 25,000 Required; 1. Prepare a horizontal analysis of the 12/31/21 and 12/31/20 Comparative Income Statements 2. Prepare a vertical analysis of the 12/31/21 Income Statement and the 12/31/20 Income Statement *Round percentages to one decimal place