Question

The following is summary of information presented on the financial statements of a company on December 31, 2017 2017 2016 Account Net Sales Revenue Cost of Goods Sold Gross Profit Selling Expenses Net Income Before Income Tax Expense Income Tax Expense Net Income $602,000 $504,000 456,000 406,000 $146,000 $98,000 55,000 $91,000 $43,000 23,000 $55,000 $20,000 55,000 36,000 With respect to net income, a horizontal analysis reveals (Round your answer to two decimal places.) O A. that net income is 175% of net sales revenue O B. a 175% increase in net income ° C. a 175% decrease in net income ( D. a $20,000 increase in net income

 

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