Sunshine Farm Supply Following Are Selected Data from the Financial

question 217

Multiple Choice

Sunshine Farm Supply Following are selected data from the financial statements of Sunshine Farm Supply:
Refer to the data for Sunshine Farm Supply.
Which of the following would result from a horizontal analysis of its income statement?

• A)Cost of goods sold is 42.1% of net sales for 2012.
• B)Gross profit is 42.1% of net sales for 2012.
• C)Cost of goods sold decreased $50,000 or 23.8% during 2012.
• D)Accounts receivable total 13.3% of total assets for 2012.

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