13.4A Reva has a jewellery business in a well-established shop. Her most recent profit and loss accounts show the following key figures;

20X5 £
20X4 £
Sales Cost of sales Gross profit 696400 585 702 (416 447) (352 007) 279 953 233 695 A recent survey by the Jewellers' Guild shows that average jewellery sales increased by 17.3% in 20X5 over the previous year. Also, it was found that the average gross profit margin in 20X5 among the survey respondents is 38.3%. Which of the following is correct? An analysis of Reva's figures shows:

a) A higher than average increase in sales, and a higher than average gross profit margin.

b) A lower than average increase in sales, and a lower than average gross profit margin.

c) A higher than average increase in sales, and a lower than average gross profit margin.

d) A lower than average increase in sales, and a higher than average gross profit margin.