Using the 2020 and 2021 Income Statements, prepare both a Comparative Horizontal and Common Size Vertical Analysis. Using a subset of the 2020 and 2021 Balance Sheets, prepare a Comparative Horizontal Analysis. Write a brief essay describing your understanding of the current business using these statements. Comment on any significant variances. Additionally, explain what you believe to be the strengths and weaknesses of the business based on this information. Use the worksheets in the back of this packet to complete the analysis and the space provided for your essay. Income Statement for Existing Restaurant Sales Revenue Food Revenue Beverage Revenue Total Sales Revenue Cost of Sales Food COS Beverage COS Total Cost of Sales Labor Expense Prime Cost Controllable Expenses Operating Supplies Expense Administrative and General Expense Advertising and Promotion Expense Repairs and Maintenance Utilities Total Controllable Expenses Controllable Income Non-Controllable Expenses Depreciation Occupancy Costs Interest Expense Total Non-Controllable Expenses Operating Income YE 2020 $995,000 $302,500 $1,297,500 $352,500 $95,000 $447,500 $382,560 $830,060 $20,100 $10,200 $4,200 $2,900 $14,100 $51,500 $415,940 $10,000 $152,000 $5,800 168,800 $248,140 YE 2021 $1,115,000 $351,600 $1,466,600 $345,200 $127,000 $472,200 $564,310 $1,036,510 $25,300 $11,405 $4,600 $1,650 $12,545 $55,500 $374,590 $10,000 $152,000 $5,200 167,200 $207,390 Current Assets Cash Credit Card Receivables Accounts Receivable Marketable Securities Prepaid Expenses Food Inventory Beverage Inventory Total Current Assets Current Liabilities Accounts Payable Accrued Expenses Payable Taxes Payable Current Mortgage Payable Total Current Liabilities YE 2020 $48,200 $2,740 $890 $1,200 $3,900 $6,900 $3,620 $67,450 $10,900 $3,250 $22,200 $13,200 $49,550 YE 2021 $31,600 $3,100 $1,475 $18,000 $5,400 $4,700 $2,960 $67,235 $9,400 $2,100 $24,300 $11,600 $47,400