Use following information questions: the from KLM Company's income 2014 2015 statements to answer the next three Sales Cost of Goods Sold 75,000 Selling Expenses . 12,000 Administrative Expenses. 12,000 Interest Expense 3,000 Total Expenses. . 102,000 Income Before Taxes 19,000 Income Taxes .........................." 3,800 Net income $ 15,200 $121,000 $92,000 51,000 11000 14,000 5,000 81,000 11,000 2,000 $ 9,000 00 21 . Horizontal analysis indicates that KLM's sales a decreased by 24.0% b. decreased by 31.5%. increased by 24.0%. d. increased by 31.5%. 22. Based on horizontal analysis, which of the following is true? a Sales grew more rapidly than cost of goods sold. b. Cost of goods sold grew more rapidly than selling expenses. C. Administrative expenses declined by 16.7% . d. both b and c are true. 23 . Based on vertical analysis of KLM's income statements, which of the following is true? a KLM produced more net income per sales dollar in 2014 than in 2015. b. KLM's selling expenses were a smaller percentage of sales in 2014 than in 2015. C. KLM's total expenses were a greater percentage of sales in 2014 than in 2015. d, all of the above are true. Use the following information from XYZ Companys balance sheet to answer the next six questions: Assets Cash Marketable securities Accounts Receivable Inventory. Property and Equipment. Accumulated Depreciation Total Assets. $ 6,000 3,200 5,200 14,400 68,000 (5,000 $91,800 Liabilities and Stockholders' Equity $ 3,400 Accounts Payable . 1,400 Notes payable (current) 1.800 Mortgage payable (long-term). ........... 28,600 Bonds payable (long-term). 24,000 Common Stock, $50 Par 11,600 Paid-in capital in Excess of Par. 21,000 Retained Earnings Total Liab. and Stockholders' $91,800 Equity