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Using the information for income statement, answer the following question: 2015 2014 Sales 100,000 85,000 Cost of goods sold 75,000 50,000 Gross profit 25,000 35,000
Using the information for income statement, answer the following question: 2015 2014 Sales 100,000 85,000 Cost of goods sold 75,000 50,000 Gross profit 25,000 35,000 Operating expenses 13,000 10,000 Net income 22,000 25,000 What is percent change for net income? a. 13.64% b. -13.64% c. -12% d. 12%
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