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Gavette Company reported the following information for the current year and prior year: Account Net sales revenue COGS Gross Profit Selling/General Exp Net income before
Gavette Company reported the following information for the current year and prior year: Account Net sales revenue COGS Gross Profit Selling/General Exp Net income before tax Income Tax Net Income Current year Percentage Prior yea $367.2001 00.00% $220.32060.00% $146.88040.00% $69.7681 9.00% $300,000 $240,000 $60,000 $12,000 $48,000 $3,000 $45,000 $77,112? $11,344? $65.7681 7.91% What would a vertical analysis report with respect to current year net income before income tax and income tax expens A. An increase of $17,768 from prior to current year. A decrease of S17,768 in net income before tax Net income before tax of 21.00% and income tax of 3.09% of net sales revenue An increase of both net income before income tax and income tax of 21.00% O D
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