Horizontal analysis is a technique for evaluating a series of financial statement data over a period of time a. that has been arranged from the lowest number to the highest number. b. to determine which items are in error. c. to determine the amount and/or percentage increase or decrease that has taken place. d. that has been arranged from the highest number to the lowest number. Assume the following cost of goods sold data for a company: If 2009 is the base year, what is the percentage increase in cost of goods sold from 2009 to 2011? a. 67% b. 60% c. 40% d. 167% In performing a vertical analysis, the base for cost of goods sold is a. net sales. b. total revenues. c. total expenses. d. total selling expenses The following information pertains to Bell Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit