Bloom's Garden Center Company

question 14

Multiple Choice

Bloom's Garden Center Company
Selected data from the financial statements of Bloom's Garden Center Company are provided below.

-Refer to the selected data provided for Bloom's Garden Center Company. Which of the following would result from a horizontal analysis of Bloom's income statement?

• A) Cost of goods sold is 53.33% of net sales for 2012.
• B) Gross profit is 46.67% of net sales for 2012.
• C) Cost of goods sold decreased by $50,000 or 17.24% during 2012.
• D) Inventory decreased by $6,000 or 20% during 2011.

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Definitions:

Richard Hakluyt

Richard Hakluyt was an English writer, geographer, and promoter of the English colonization of North America, known for compiling and publishing detailed accounts of exploratory voyages in the late 16th century.

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Seventeenth-Century Migrants

Individuals or groups who relocated, often across national boundaries, during the 1600s, frequently for reasons such as religious freedom, economic opportunity, or as a result of being transported as convicts or indentured servants.

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