The following is a summary of information presented on the financial statements of a company on December 31, 20X9.
Account
20X9
20X8
Net Sales Revenue
$607,000
$503,000
Cost of Goods Sold
457,000
403,000
Gross Profit
150,000
100,000
Selling Expenses
56,000
52,000
Net Income Before Income Tax Expense
94,000
48,000
Income Tax Expense
37,000
20,000
Net Income
$57,000
$28,000
With respect to net sales revenue, a horizontal analysis reveals a
% increase in net sales revenue. Note please
answer to the nearest whole number percentage. Round to the nearest whole percentage.