Does the increase in net sales affect the income? Why? 20xx Calculations % Net Sales 20yy Calculations % Net Sales Net sales 39920 39920/39920 100.0% Net sales 47210 47210/47210 100.0% COGS 26800 26800/39920 67.1% COGS 35000 35000/47210 74.1% Selling, General and Administrative Expenses 9120 9210/39920 22.8% Selling, General and Administrative Expenses 5432 5432/47210 11.5% Earnings Before Interest and Taxes 4000 4000/39920 10.0% Earnings Before Interest and Taxes 3005 3005/47210 6.4% Interest Expense 200 200/39920 0.5% Interest Expense 170 170/47210 0.4% Earnings Before Taxes 3800 3800/39920 9.5% Earnings Before Taxes 2835 2835/47210 6.0% Income Taxes 743 743/39920 1.9% Income Taxes 290 290/47210 0.6% Net Income 3057 3057/39920 7.7% Net Income 2545 2545/47210 5.4%