6 points
The following is the Income Statement for Osinski Inc.
For the year ended:
December 31, 2022
For the year ended:
December 31, 2021
Net Sales
$38,250
$32,500
Cost of Goods sold
20,250
19,000
Gross Profit
18,000
13,500
Sales and administration Expense
14,000
12,250
Interest Expense
85
34
Income before Taxes
3,915
1,216
Income Tax Expense
837
660
Net Income
3,078
556
Perform horizontal analysis on Osinski Inc.'s Gross Profit for 2022.
133.3%
33.3%
75.0%
25.0%
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