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Following is a Comparative Income Statement for Trix Co. 2021 2020 Sales $1,000,000 $800,000 Cost of goods sold 600,000 500,000 Gross Profit 400,000 300,000 Operating
Following is a Comparative Income Statement for Trix Co. 2021 2020 Sales $1,000,000 $800,000 Cost of goods sold 600,000 500,000 Gross Profit 400,000 300,000 Operating expenses 200,000 180,000 Net Income $200,000 $120,000 You are to perform a horizontal analysis. What is the % of change for sales in 2021 as compared to 2020? Your answer should be rounded to a whole number and you do not need to enter the % sign. Example: A 20 % increase should be entered as 20
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