The following is a summary of information presented on the financial statements of a company on December 31, 2025. Account Net Sales Revenue 2025 $606,000 2024 $506,000 Cost of Goods Sold 456,000 405,000 Gross Profit 150,000 101,000 Selling Expenses 51,000 54,000 Net Income Before Income Tax Expense 99,000 47,000 Income Tax Expense 39,000 23,000 Net Income $60,000 $24,000 With respect to gross profit, a horizontal analysis reveals (Round your answer to two decimal OA. an increase of 32.67% B. an increase of 48.51% OC. an increase of 19.96% OD. an increase of 24.75%