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The following is a summary of information presented on the financial statements of a company on December 31, 2019. Account 2019 2018 Net Sales Revenue
The following is a summary of information presented on the financial statements of a company on December 31, 2019. Account 2019 2018 Net Sales Revenue $608,000 $501,000 Cost of Goods Sold 457,000 405,000 Gross Profit 151,000 96,000 Selling Expenses 54,000 52,000 Net Income Before Income Tax Expense 97,000 44,000 Income Tax Expense 36,000 25,000 Net Income $61,000 $19,000 With respect to net sales revenue, a horizontal analysis reveals O A. a 21.36% increase in net sales revenue O B. a $52,000 increase in net sales revenue O C. a decrease of $52,000 in net sales revenue OD. a 241.5% decrease in net sales revenue
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