y (2021/2022 Winter Term (1212)) (A03) Thyme Co. Stuterment of income For the Year Ended December 31 Sales revenue Cost of goods sold Operating expenses Interest expense Income tax expense Net Income 2021 2020 $ 500,000 $400,000 250,000 180,000 150,000 100,000 25,000 10,000 15,000 22,000 $ 60,000 $ 88,000 Required: 1. Prepare a common-size analysis for Thyme Co. for 2021 and 2020 bated on the above statements of income for both years. You can use the table in the response ares to help you with your answer marks) 2. Tim Thyme is the owner of the company and he cannot understand why the profitin 2021 is lower than in 2020 but the sales were higher in 2021. Indicate to Tim why this happened based on your anuwer to 1. (a murica)