Selected data from the financial statements of Crossette Garden Centre is provided below. 2017 2016 Accounts...
Selected data from the financial statements of Crossette Garden Centre is provided below.
|
2017 |
2016 |
|
|
Accounts receivable |
$70 000 |
$46 000 |
|
Inventory |
10 000 |
17 000 |
|
Total assets |
470 000 |
360 000 |
|
Net sales |
350 000 |
270 000 |
|
Cost of goods sold |
170 000 |
220 000 |
Which of the following would result from a horizontal analysis of the company's statement of comprehensive income?
|
Cost of goods sold is 44.75% of net sales for 2017 |
||
|
Net Sales increased $80 000 or 29.63% during 2017 |
||
|
Cost of goods sold increased $50 000 or 32.72% during 2017 |
||
|
Gross profit is 57.90% of net sales for 2017 |
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Selected data from the financial statements of Crossette Garden
Centre is provided below.
2017
2016
Accounts...
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income statements.
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2016
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$220,000
$180,000
Cost of goods sold
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Income tax expense
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Net income
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