24C Sunny Question 4 of 10 Net Income 2024 $97,300 45,600 51,700 22,500 $29,200 Search 2023 $86,200 53,400 32,800 18,300 $14,500 M -/1 E

Current Attempt in Progress Consider the following income statement data for Barolo Inc.: Based on common-size analysis, which of the following statements is correct? Net income as a percent of sales declined in 2024. The increase in gross profit in 2024 was due to increased sales. The company's cost to sales ratio improved in 2024. The increase in sales revenue in 2024 was caused by higher selling and administrative expenses