Selected Data from the Financial Statements Are Provided Below

question 167

Multiple Choice

Selected data from the financial statements are provided below:

-Refer to Rags to Riches. Which of the following would result from a horizontal analysis of the company's income statement?

• A)Net sales in 2020 increased to 140.74% of the 2019 amount.
• B)Gross profit is 57.9% of net sales for 2020.
• C)Accounts receivable is 13.3% of total assets in 2020.
• D)The accounts receivable turnover ratio is 7.76 in 2020.

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