The following is a summary of information presented on the financial statements of a company onDecember 31, 2025.Account20252024Net Sales Revenue$605,000456.000149,00051.00098,000$508,000405.000103,00054.00049,00023.000Cost of Goods SoldGross ProfitSelling ExpensesNet Income Before Income Tax ExpenseIncome Tax ExpenseNet Income39.000$59,000$26,000With respect to gross profit, a horizontal analysis reveals(Round your answer to two decimal places.)O A. an increase of 20.28%O B. an increase of 30 87%OC. an increase of 24.63%O D. an increase of 44.66%

Horizontal analysis is the way to calculate the variance from the different year by year to show an…

The following is a summary of information presented on the financial statements of a company on December 31, 2025. Account 2025 2024 Net Sales Revenue $605,000 456.000 $508,000 405.000 103,000 54.000 49,000 23.000 Cost of Goods Sold Gross Profit 149,000 Selling Expenses Net Income Before Income Tax Expense Income Tax Expense 51.000 98,000 39.000 $59,000 Net Income $26,000 With respect to gross profit, a horizontal analysis reveals (Round your answer to two decimal places.) O A. an increase of 20.28% O B. an increase of 30.87% O C. an increase of 24.63% O D. an increase of 44.66%

The following is a summary of information presented on the financial statements of a company on December 31, 2025. Account 2025 2024 Net Sales Revenue $605,000 456.000 $508,000 405.000 103,000 54.000 49,000 23.000 Cost of Goods Sold Gross Profit 149,000 Selling Expenses Net Income Before Income Tax Expense Income Tax Expense 51.000 98,000 39.000 $59,000 Net Income $26,000 With respect to gross profit, a horizontal analysis reveals (Round your answer to two decimal places.) O A. an increase of 20.28% O B. an increase of 30.87% O C. an increase of 24.63% O D. an increase of 44.66%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1-Calculate the Net Income for the Fenway Company ___________ 2-Calculate the Gross Profit for the Fenway Company ___________