The Following Is a Summary of Information Presented on the Financial

question 112

Multiple Choice

The following is a summary of information presented on the financial statements of a company on December 31,2017. $$\begin{array} { | l | r | r | } \hline \text { Account } & { \mathbf { 2 0 1 7 } } & { \mathbf { 2 0 1 6 } } \\\hline \text { Net Sales Revenue } & \$ 604,000 & \$ 504,000 \\\hline \text { Cost of Goods Sold } & 453,000 & \underline { 400,000 } \\\hline \text { Gross Profit } & 151,000 & 104,000 \\\hline \text { Selling Expenses } & \underline { 58,000 } & \underline { 50,000 } \\\hline \text { Net Income Before Income Tax Expense } & 93,000 & 54,000 \\\hline \text { Income Tax Expense } & \underline { 41,000 } & \underline { 21,000 } \\\hline \text { Net Income } & \$ 52,000 & \$ 33,000 \\\hline\end{array}$$ With respect to net sales revenue,a horizontal analysis reveals ________.

• A)a 19.84% increase in net sales revenue
• B)a 238.48% decrease in net sales revenue
• C)a decrease of $53,000 in net sales revenue
• D)a $53,000 increase in net sales revenue

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Definitions:

Spanish Empire

A historical empire that, at its height in the 16th and 17th centuries, was one of the largest empires in world history, including territories in the Americas, Europe, Africa, Asia, and Oceania.

Florida

A southeastern U.S. state, known for its warm climate, beaches, and as a popular tourist destination.

New Laws of 1542

Historical regulations enacted by the Spanish crown to reform the administration of Spanish colonies and improve the treatment of Indigenous peoples in the Americas.