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Account Current Year Prior Year Net sales (all credit) $445,400 $362,000 Costs of goods sold $220,000 $185,000 Gross profit $225,400 $177,000 Income from operations $72,000

Account Current Year Prior Year
Net sales (all credit) $445,400 $362,000
Costs of goods sold $220,000 $185,000
Gross profit $225,400 $177,000
Income from operations $72,000 $80,000
Interest expense $8,000 $14,000
Net income $40,000 $35,000
Cash $34,000 $28,000
Accounts receivable, net $42,000 $62,000
Inventory $120,000 $100,000
Prepaid expenses $4,000 $2,000
Total current assets $200,000 $192,000
Total long-term assets $200,000 $230,000
Total current liabilities $100,000 $165,000
Total long-term liabilities $44,000 $95,000
Common stock, no par, $8,000 shares, value $120/share $80,000

$80,000

E. What was the dollar and % change in: net sales, gross profit, and net income (show work for all and equations for all)

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