The following is a summary of information presented on the financial statements of a company on December 31, 2025. Account 2025 2024 Net Sales Revenue $605,000 456.000 $508,000 405.000 103,000 54.000 49,000 23.000 Cost of Goods Sold Gross Profit 149,000 Selling Expenses Net Income Before Income Tax Expense Income Tax Expense 51.000 98,000 39.000 $59,000 Net Income $26,000 With respect to gross profit, a horizontal analysis reveals (Round your answer to two decimal places.) O A. an increase of 20.28% O B. an increase of 30.87% O C. an increase of 24.63% O D. an increase of 44.66%
The following is a summary of information presented on the financial statements of a company on December 31, 2025. Account 2025 2024 Net Sales Revenue $605,000 456.000 $508,000 405.000 103,000 54.000 49,000 23.000 Cost of Goods Sold Gross Profit 149,000 Selling Expenses Net Income Before Income Tax Expense Income Tax Expense 51.000 98,000 39.000 $59,000 Net Income $26,000 With respect to gross profit, a horizontal analysis reveals (Round your answer to two decimal places.) O A. an increase of 20.28% O B. an increase of 30.87% O C. an increase of 24.63% O D. an increase of 44.66%
Financial & Managerial Accounting
13th Edition
ISBN:9781285866307
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 15.17EX: Profitability ratios The following selected data were taken from the financial statements of...
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