This Question: 1 pt
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the tonowing is a summary onionmanon presented on the inancial statements on a com??n? on December 31, 2019.
Account
2019
2018
Net Sales Revenue
$605,000 $500,000
Cost of Goods Sold
457,000 406,000
Gross Profit
$148,000
$94,000
Selling Expenses
53,000
54,000
Net Income Before Income Tax Expense
$95,000 $40,000
Income Tax Expense
40,000
20,000
Net Income
$55,000
$20,000
(Round your answer to two decimal places.)
With respect to net income, a horizontal analysis reveals
A. that net income is 17.5% of net sales revenue
B. a 175% decrease in net income
C. a $20,000 increase in net income
D. a 175% increase in net income
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