Business
Business, 06.12.2019 04:31, mikecampbellashleyca

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 $600,000 $504,000 cost of goods sold 456,000 405,000 gross profit $144,000 $99,000 selling expenses 51,000 54,000 net income before income tax expense $93,000 $45,000 income tax expense 39,000 23,000 net income $54,000 $22,000 with respect to net income, a horizontal analysis reveals
a. a 145.45% decrease in net income
b. a $22,000 increase in net income
c. that net income is 14.55% of net sales revenue
d. a 145.45% increase in net income

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