Atlantis,Inc The Horizontal Analysis Shows That Cost of Goods Sold Has

question 41

Multiple Choice

Atlantis,Inc.reported the following data: $\begin{array}{|l|r|r|r|r|}\hline & 2017 & 2016 & \text { Amount } & \text { Percentage } \\\hline \text { Revenues } & \$ 6,390 & \$ 4,940 & \$ 1,450 & 29.35 \% \\\hline \text { Cost of goods sold } & 3,410 & 2,400 & 1,010 & 42.08 \% \\\hline \text { Gross profit } & 2,980 & 2,540 & 440 & 17.32 \% \\\hline \text { Operating expenses: } & & & & \\\hline \text { Sales and marketing expense } & 720 & 600 & 120 & 20 \% \\\hline \text { General and administrative } & 450 & 445 & 5 & 1.12 \% \\\text { Expenses } & & & & \\\hline\begin{array}{l} \text { Research and development } \\\text { expense }\end{array} & 480 & 470 & 10 & 2.13 \% \\\hline \text { Other expense } & 420 & 750 & (330) & (44.00) \% \\\hline \text { Total operating expenses } & 2,070 & 2,265 & (195) & (8.61) \% \\\hline \text { Income before income tax } & 910 & 275 & 635 & 230.91 \% \\\hline \text { Income tax expense } & 240 & 220 & \$ 20 & 9.09 \% \\\hline \text { Net income (loss) } & \$ 670 & \$ 55 & \$ 615 & 1,118.18 \% \\\hline\end{array}$ The horizontal analysis shows that cost of goods sold has ________.(Round your answer to two decimal places. )

• A)increased by 29.35%
• B)decreased by 29.35%
• C)increased by 42.08%
• D)decreased by 42.08%

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Definitions:

Time Competence

The ability to live in the present while utilizing past experiences and considering future consequences in decision-making.

Shostrom's Inventory

Shostrom's Inventory is likely a reference to a psychological assessment or inventory developed by Everett L. Shostrom, potentially in the areas of personal orientation or therapeutic outcomes.

Origins

The point or place where something begins, arises, or is derived; often used in reference to the beginning of the universe, life, or specific theories and ideas.

Noncontrol

A state or situation where there is no control or regulation.