Below is a vertical analysis for Yeti Holdings, Inc comparing year 2019 and 2020. The income statement has compared each account to the total net sales per year and the balance sheet is comparing each account to either the total net sales per year or the total liabilities and stockholder's equity per year. Looking at each year and each account, please come up with a narrative of the 5 most important changes in the income statement and the balance sheet.

Vertical Analysis
Yeti Holdings, Inc
Income Statement
For the Year Ended December 31, 2020
	2020		2019
Net Sales	$1,091,721.00	100%	$913,734.00	100%
Cost of Goods Sold	$462,918.00	42.40%	$438,420.00	47.98%
Gross Profit	$628,803.00	57.60%	$475,314.00	52.02%
Selling, General, and Administrative Expenses	$414,570.00	37.97%	$385,543.00	42.19%
Operating Income	$214,233.00	19.62%	$89,771.00	9.82%
Interest Expense	$9,155.00	0.84%	$21,779.00	2.38%
Other Income (Expense)	$123.00	0.01%	$734.00	0.08%
Income before Taxes	$205,201.00	18.80%	$67,258.00	7.36%
Less: Income Taxes	$49,400.00	4.52%	$16,824.00	1.84%
Net Income	$155,801.00	14.27%	$50,434.00	5.52%
Yeti Holdings, Inc
Comparative Balance Sheet
For the Year Ended December 31, 2020
	2020		2019
Assets
Current Assets:
Cash	$253,283.00	34.36%	$72,515.00	11.52%
Accounts receivable	$65,417.00	8.88%	$82,688.00	13.13%
Inventories	$140,111.00	19.01%	$185,700.00	29.50%
Other current assets	$17,686.00	2.40%	$19,644.00	3.12%
Total Current Assets	$476,497.00	64.65%	$360,547.00	57.27%
Property, Plant & Equipment	$78,075.00	10.59%	$82,610.00	13.12%
Operating Lease Right-of-Use Assets	$34,090.00	4.63%	$37,768.00	6.00%
Goodwill	$54,293.00	7.37%	$54,293.00	8.62%
Intangible Assets	$92,078.00	12.49%	$90,850.00	14.43%
Deferred Income Taxes	$1,062.00	0.14%	$1,082.00	0.17%
Deferred Charges and Other Assets	$972.00	0.13%	$2,389.00	0.38%
Total Assets	$737,067.00	100.00%	$629,539.00	100.00%
Liabilities and Stockholders' Equity
Current Liabilities:
Accounts Payable	$123,621.00	16.77%	$83,823.00	13.31%
Accrued Expenses and Other Current Liabilities	$89,068.00	12.08%	$42,088.00	6.69%
Taxes Payable	$18,316.00	2.48%	$3,329.00	0.53%
Accrued Payroll and Related Costs	$25,810.00	3.50%	$18,119.00	2.88%
Operating Lease Liabilities	$8,247.00	1.12%	$7,768.00	1.23%
Current Maturities of Long-Term Debt	$22,697.00	3.08%	$15,185.00	2.41%
Total Current Liabilities	$287,759.00	39.04%	$170,312.00	27.05%
Long-Term Debt, Net of Current Portion	$111,017.00	15.06%	$281,715.00	44.75%
Operating Lease Liabilities, Non-Current	$36,546.00	4.96%	$42,200.00	6.70%
Other Liabilities	$13,327.00	1.81%	$13,307.00	2.11%
Total Liabilities	$448,649.00	60.87%	$507,534.00	80.62%
Stockholders' Equity
Common Stock, par value $0.01; 600,000 shares	$871.00	0.12%	$868.00	0.14%
Preferred Stock, par value $0.01; 30,000 shares
Additional Paid-In Capital	$321,678.00	43.64%	$310,678.00	49.35%
Accumulated Deficit	$33,744.00	4.58%	$189,545.00	30.11%
Accumulated Other Comprehensive Income	$387.00	0.05%	$4.00	0.00%
Total Stockholders' Equity	$288,418.00	39.13%	$122,005.00	19.38%
Total Liabilities and Stockholders' Equity	$737,067.00	100.00%	$629,539.00	100.00%