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Business · Accounting
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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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