The following is a summary of information presented on the financial statements of a company on December 31, 2025. Account 2025 2024 Net Sales Revenue $600,000 $502,000 Cost of Goods Sold 456,000 405,000 Gross Profit 144,000 97,000 Selling Expenses 51,000 54,000 Net Income Before Income Tax Expense 93,000 43,000 Income Tax Expense 39,000 23,000 Net Income $54,000 $20,000 With respect to gross profit, a horizontal analysis reveals OO A. an increase of 24% B. an increase of 48.45% C. an increase of 32.64% OD an increase of 19.32% (Round your answer to two decimal places.)