question 36

You have prepared a trend series for Company XYZ for three years, 2004-2006 inclusive, using 2004 as the base year Below are selected data 2004 2005 2006 Sales 100 120 135 Net Income 99 118 128 Total Assets 100 119 130 Which of the following statements is incorrect Net income in 2006 Increased by 29.29% compared to 2004 XYZ's net income to sales (return on sales) is higher in 2006 as compared to 2004. XYZ's net income to sales (return on sales) is lower in 2005 as compared to 2004. Assets have increased over time