2020 2019 Net Sales $480,000 $500,000 Less: Cost of Goods Sold 254,400 300,000 Gross Profit 225,600 200,000 Operating Expenses 140,000 130,000 Operating Income 85,600 70,000 Interest Expense 18.000 21.000 Profit before Income Taxes 67,600 Less: Income Taxes 49,000 29 30 31 16,900 Profit 12.250 $50.700 $8.750 (A) Insert horizontal analysis on the statement below. (B) Perform further analysis. Explain in detal why profit increased by 38% even though net sales decreased by 4% and operating expenses increased by 7.7%