hich one of the following is not a tool in financial statement analysis? a. Horizontal analysis b. Circular analysis c. Vertical analysis d. Ratio analysis 12. W 13. The formula for horizontal analysis of changes since the base period is the current year amount a. divided by the base year amount b. minus the base year amount divided by the base year amount. c. minus the base year amount divided by the current year amount. d. plus the base year amount divided by the base year amount. 14. Assume the following sales data for a company: 2017 2016 2015 2014 $1,050,000 950,000 800,000 650,000 If 2014 is the base year, what is the percentage increase in sales from 2014 to 2016? a. 100% b. 61.5% ?. 46.2% d. 68.4% 15. Assume the following sales data for a company: 2017 2016 2015 $945,000 877,500 675,000 If 2015 is the base year, what is the percentage increase in sales from 2015 to 2016? a. 76.9% b. 30% C. 40% d. 71.4%