A company reported $75,000 of income for 2018, $80,000 for 2019, and $90,000 for 2020. The percentage change in net income from 2019 to 2020 was: . 9.1% 16.7% 12.5% 11.1% Question 16 (1 point) Saved Hamilton Corporation reports the following data: Net sales Cost of goods sold Gross margin $ 370,000 250.000 $ 120,000 If net sales increases by 15%, and cost of goods sold increases by 20%, gross margin would: decrease by 4.4% decrease by 4.6% increase by 4.6% increase by 4.4% Question 17 (1 point) Saved When performing vertical analysis of an income statement, which of the following is usually used as the base? gross sales gross margin net income net sales