The Following Is a Summary of Information Presented on the Financial

question 18

Multiple Choice

The following is a summary of information presented on the financial statements of a company on December 31,2019. With respect to net income,a horizontal analysis reveals ________.(Round your answer to two decimal places. )

• A)that net income is 11.03% of net sales revenue
• B)a $29,000 increase in net income
• C)a 110.34% decrease in net income
• D)a 110.34% increase in net income

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Definitions:

Business Profits

The excess of revenues over expenses for a business operation, indicating the financial success of the company.

Income

The money received, usually on a regular basis, for work or through investments, which affects consumer spending and saving decisions.

Public Entertainment

Activities and performances made available to the general public for enjoyment, typically involving some form of performance or display.

Dominant Strategy

A strategy that yields a better payoff than any other strategy, regardless of what the other players do.