keAssignment/takeAssignmentMain.do?invokera&takeAssignments. m Paused Boone Company Comparative Income Statement For the Years Ended December 31, 2015 and 2074 2045 2014 Increase (Decrease) Increase (Decret Amount Amount Amount Percent $432,300 $330,000 102,300 3196 (361,200) (280,000) 81,200 29% Sales Cost of goods sold $71,100 $50,000 21,100 42.2% 3,780 21% $(21,780) (19,350) $(18,000) (15,000) 4,350 16 $(41,130) Gross profit Selling expenses Administrative expenses Total operating expenses Income before income tax Income tax expense Net Income $(33,000) 8,130 96 $29,970 $17,000 $ 12,970 96 (12,000) (6,800 5,200 76.47% $17,970 $10,200 7,770 96 b. All of the following statements regarding Boone Company are true except: Cost of goods sold increased at a faster rate than the increase in sales. Feedback w etv BM A