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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 | $606,000 | $503,000 |
Cost of Goods Sold | 453,000 | 406,000 |
Gross Profit | 153,000 | 97,000 |
Selling Expenses | 52,000 | 50,000 |
Net Income Before Income Tax Expense | 101,000 | 47,000 |
Income Tax Expense | 37,000 | 24,000 |
Net Income | $64,000 | $23,000 |
With respect to net sales revenue, a horizontal analysis reveals
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