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Income Statement: The income statement of Taco Bell company is given for the years 2020 & 2019. 2020 2019 General and administrative expenses Interest expense

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Income Statement: The income statement of Taco Bell company is given for the years 2020 & 2019. 2020 2019 General and administrative expenses Interest expense Net sales Selling expenses Income taxes COGS Gain on Sale of land 25,000 1,200 $124.000 11.880 $1,1093 108,000 450 24,000 1,500 $138.000 12,720 1,883 95,000 600 4. According to your answer in the previous question (3), the gross profit margin has decreased from 2019 to 2020. This decline in gross profit could be due to: A) A decrease in prices caused by competition, deflation, or slow- moving goods that have been discounted. B) An increase in the cost of goods and the firm has been unable to pass along the increases to customers. This is happened while the selling prices have remained the same. O C) All of the above. C D) None of the above

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