The Following Is a Summary of Information Presented on the Financial

question 51

Multiple Choice

The following is a summary of information presented on the financial statements of a company on 31 December 2017.
$$\begin{array} { | l | l | l | } \hline \text { Account } & \mathbf { 2 0 1 7 } & \mathbf { 2 0 1 6 } \\\hline \text { Sales revenue } & \$ 603,000 & \$ 502,000 \\\hline \text { Cost of sales } & 450,000 & 403,000 \\\hline \text { Gross profit } & 153,000 & 99,000 \\\hline \text { Selling expenses } & 52,000 & 52,000 \\\hline \text { Profit before income tax } & 101,000 & 47,000 \\\hline \text { Income tax expense } & 37,000 & 24,000 \\\hline \text { Profit } & \$ 64,000 & \$ 23,000 \\\hline\end{array}$$
What would a horizontal analysis report show with respect to Sales revenue?

• A) a decrease of $47,000 in Sales revenue
• B) an increase of $47,000 in Sales revenue
• C) a 20.12% increase in Sales revenue
• D) a 239.04% decrease in Sales revenue

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