The Following Is a Summary of Information Presented on the Financial

question 46

Multiple Choice

The following is a summary of information presented on the financial statements of a company on 31 December 2017.
$$\begin{array} { | l | l | l | } \hline \text { Account } & \mathbf { 2 0 1 7 } & \mathbf { 2 0 1 6 } \\\hline \text { Sales revenue } & \$ 603,000 & \$ 500,000 \\\hline \text { Cost of sales } & 454,000 & 401,000 \\\hline \text { Gross profit } & \$ 149,000 & \$ 99,000 \\\hline \text { Selling expenses } & \$ 5,000 & \$ 4,000 \\\hline \text { Profit before income tax } & \$ 94,000 & \$ 45,000 \\\hline \text { Income tax expense } & 39,000 & 19,000 \\\hline \text { Profit } & \$ 55,000 & \$ 26,000 \\\hline\end{array}$$
What would a horizontal analysis report show with respect to Profit?

• A) a 89.66% increase in Profit
• B) a 111.54% increase in Profit
• C) a $26,000 increase in Profit
• D) both Profit before income tax and Profit are 89.66% of Sales revenue

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Definitions:

Formal Mentoring Programs

Structured initiatives designed to facilitate mentoring relationships, often within an academic or professional setting, aiming for growth and development.

Informal Ones

Casual or unofficial relationships or structures within organizations, contrasting with formal roles and hierarchies.

Female Protégés

Refers to younger or less experienced women who are guided, supported, and mentored in their personal and professional development by a more experienced person.

Career Development

The progression and growth of an individual's career path, including training, skill acquisition, and role advancements.