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Presented below is selected data from the financial statements of On-a-roll, Inc. for the current and prior year: 12/31/20X2 12/31/20X1 Current assets $430,000 $220,000 Total

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Presented below is selected data from the financial statements of On-a-roll, Inc. for the current and prior year: 12/31/20X2 12/31/20X1 Current assets $430,000 $220,000 Total assets $2,500,000 $1,950,000 Current liabilities $210,000 $180,000 Total stockholders' equity $1,290,000 $770,000 $3,900,000 Net sales $4,800,000 Cost of Goods Sold $3,200,000 $2,690,000 $1,210,000 Gross Profit $1,600,000 Wages expense $973,000 $869,000 Supplies expense $60,000 $50,000 Depreciation expense $35,000 $32,000 Interest expense $12,000 $9,000 Net income $520,000 $250,000 A vertical analysis of the income statement would show (select all that apply): A. Net income increased 108% from 20x1 to 20x2. B. Supplies expense increased 20% from 20x1 to 20x2. C. Cost of goods sold in 20X2 is 66.7% of net sales. D. The net profit margin for 20X2 is 10.83% Gross profit was 33.3% of net sales in 20X2

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