2 1) 3 (000's omitted) 2019 2018 4 Net sales 200 150 5 Cost of goods sold 135 110 6 Gross margin 65 40 7 Operating expenses 40 30 3 Interest expense 7 5 Income before taxes 18 5 0 Income tax 9 2.5 1 Net income 9 2.5 2 3 Prepare horizontal analysis and comment on the changes between Year 2019 and 2018