Sunshine Farm Supply Following Are Selected Data from the Financial Statements of Sunshine

question 40

Multiple Choice

Sunshine Farm Supply
Following are selected data from the financial statements of Sunshine Farm Supply:
-Refer to the data for Sunshine Farm Supply.
Which of the following results would be found through a vertical analysis of the balance sheet or the income statement of Sunshine Farm Supply?

• A)Accounts receivable increased $22,000 during 2016.
• B)Total assets increased $70,000 during 2016.
• C)Cost of goods sold increased $50,000 or 23.8% during 2016.
• D)Gross profit is 57.9% of net sales for 2016.