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Use the following information to do a horizontal analysis of Manama Corporation's Income statement for the current year and prior year: Account Current Year Previous
- Use the following information to do a horizontal analysis of Manama Corporation's Income statement for the current year and prior year:
| Account | Current Year | Previous Year |
| Sales | 520000 | 480000 |
| Cost of Goods sold | 385000 | 360000 |
| Gross Profit | 135000 | 120000 |
| Selling & General Expenses | 62000 | 75000 |
| Net Income | 73000 | 45000 |
What is the percentage change (Closest) in Net Income ?
| A. | Decreased by 38.36% | |
| B. | Increased by 32.00% | |
| C. | Increased by 62.22% | |
| D. | Increased by 38.36% |
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Cost Management Accounting And Control
Authors: Don R. Hansen, Maryanne M. Mowen
4th Edition
0324069731, 978-0324069730
