Interpreting Horizontal Analysis results

Income Statement $($SM$)20212020\%$ Change

Net Sales: $250\mathrm{.}40220\mathrm{.}8013\mathrm{.}4\%$

Cost of Goods Sold $131\mathrm{.}95123\mathrm{.}506\mathrm{.}8\%$

Gross Profit $118\mathrm{.}4597\mathrm{.}3021\mathrm{.}7\%$

SG&A Expenses $65\mathrm{.}5055\mathrm{.}3018\mathrm{.}4\%$

Operating Income $52\mathrm{.}9542\mathrm{.}0026\mathrm{.}1\%$

Interest Expense $13\mathrm{.}3010\mathrm{.}2030\mathrm{.}4\%$

Income Tax Expense $12\mathrm{.}6011\mathrm{.}905\mathrm{.}9\%$

Net Income $27\mathrm{.}0519\mathrm{.}9035\mathrm{.}9\%$

You have been analyzing your company's performance over the past few years and decided to conduct a horizontal analysis. Your results are above.

$1.$ Some of the results are causing you concern. What are these and why do they concern you?

$2.$ What caused your Net Income to increase so much more than the increase in Net Sales?