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The following is a summary of information presented on the financial statements of a company on December 31, 20X9. Account 20X9 20X8 Net Sales Revenue
The following is a summary of information presented on the financial statements of a company on December 31, 20X9. Account 20X9 20X8 Net Sales Revenue Cost of Goods Sold $602,000 $505,000 456,000 405,000 146,000 100,000 56,000 51,000 Gross Profit Selling Expenses Net Income Before Income Tax Expense 2 90,000 49,000 Income Tax Expense 36.000 19,000 $54,000 $30,000 Net Income With respect to net sales revenue, a horizontal analysis reveals O a $51.000 increase in net sales revenue a 19.21% increase in net sales revenue a decrease of $51.000 in net sales revenue a 237 22% decrease in net sales revenue
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