Show Mariner's horizontal analysis of net sales and expenses. (Round the percentages to the nearest hundredth percent.)

Prepare a horizontal analysis of the following comparative income statement of Mariner Designs. (Click the icon to view the comparative income statement.) Why did net income increase by a higher percentage than net sales revenue during 2014? Mariner Designs Horizontal Analysis of Comparative Income Statements Years Ended December 31, 2014 and 2013 Increase (Decrease) (amounts in thousands) 2014 2013 Amount Percent Sales revenues 507,990 442,500 234,900 217,500 Less: Cost of goods sold 273,090 225,000 Gross profit 127,080 120,000 Less: Operating expenses 146,010 105,000 Operating income 14,300 13,000 Less: Interest expense 131,710 92,000 Income before income taxes 20,150 12,000 Less: Income tax expense 111,560 80,000 Net income