For the past several quarters the interest rate corresponding to the bar graph are as follows:

August $2022=5\mathrm{.}52\%$

November $2022=6\mathrm{.}94\%$

February $2023=7\mathrm{.}46\%$

May $2023=7\mathrm{.}59\%$

August $2023=8\mathrm{.}30\%$

Which of the following statements is most accurate with respect to this graph?

For companies purchasing automobiles through an installment loan in $2023,$ interest expense will be higher than if purchased in $2022.$ This one factor reduces gross margin $($gross profit$)$ and net income.

For companies purchasing automobiles through an installment loan in $2023.$ interest expense will be higher than if purchased in $2022.$ This one factor reduces net income but not gross margin $($gross profit$).$