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BE 163: The following items were taken from the financial statements of Horace, Inc., over a three-year period: Item 2009 2008 2007 NetSales $385,000. $356,000

BE 163: The following items were taken from the financial statements of Horace, Inc., over a three-year period: Item 2009 2008 2007 NetSales $385,000. $356,000 $300,000 Cost of Goods Sold 214,000, 206,000, 186,000 GrossProfit. $171,00$150,000$114,000 Instructions Compute the following for each of the above time periods. a. The amount and percentage change from 2007 to 2008 . b. The amount and percentage change from 2008 to 2009.

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