Perform a Horizontal Analysis for the Entry "Gross Sales" Shown

question 34

Multiple Choice

Perform a horizontal analysis for the entry "Gross Sales" shown on the income statement portion below. (Round to the nearest tenth) $\begin{array}{c}\begin{array}{lll}\\\\ \hline\text { Revenue}\\ \text { Gross Sales}\\ \text { Less: Sales Returns and Allowances Net Sales}\\\text { Net Sales }\\ \text { Taxes Payable}\\ \text { Operating Expenses }\\ \text { Salaries and Benefits}\\ \text { Rent and Utilities}\\ \text { Advertising and Promotions}\\ \text { Insurance}\\ \text { Miscellaneous Expenses}\\ \text {Total Operating Expenses}\end{array}\begin{array}{lll}\\2012\\ \hline \\\$ 258,000 \\7,100 \\250,900 \\\\\\84,600 \\21,300 \\1,425 \\2,250 \\17,000 \\\$ 126,575 \end{array}\begin{array}{lll}\\2011\\ \hline\\\$ 193,500 \\4,800 \\188,700 \\\\\\106,600 \\24,900 \\900 \\1,900 \\15,300 \\\$ 149,600 \end{array}\begin{array}{lll} \text { Increase/Decrease }\\ \text { Amount Percent}\\ \hline\\ \\ \\ \\\\\\\\\\\\\\\\\\\end{array}\end{array}$

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Definitions:

Brain Development

The process involving growth and change in the brain's structure, function, and chemistry, significantly occurring during childhood and adolescence.

Physical Violence

The use of physical force with the intention to hurt, damage, or kill someone or something.

Mutual Interaction

Reciprocal actions or influence between two or more objects, organisms, or individuals.

Synchrony

The simultaneous action, development, or occurrence of events or processes.