The following items were taken from the financial statements of Horace, Inc., over a three-year period: $\begin{array}{lrrr}\text { Item }&2015&2014&2013\
\text { Net Sales } & \$ 355,000 & \$ 340,000 & \$ 300,000 \
\text { Cost of Goods Sold } & 214,000 & 202,000 & 186,000\
\text { Gross Profit }&\$141,000&\$138,000&\$114,000
\end{array}$ Instructions
Compute the following for each of the above time periods.
a. The amount and percentage change from 2013 to 2014.
b. The amount and percentage change from 2014 to 2015.

Question

The following items were taken from the financial statements of Horace, Inc., over a three-year period: $\begin{array}{lrrr}\text { Item }&2015&2014&2013\
\text { Net Sales } & \$ 355,000 & \$ 340,000 & \$ 300,000 \
\text { Cost of Goods Sold } & 214,000 & 202,000 & 186,000\
\text { Gross Profit }&\$141,000&\$138,000&\$114,000
\end{array}$ Instructions
Compute the following for each of the above time periods. 
a. The amount and percentage change from 2013 to 2014.
b. The amount and percentage change from 2014 to 2015.

Quizplus · Accepted Answer

The Answer of The following items were taken from the financial statements of Horace, Inc., over a three-year period: $\begin{array}{lrrr}\text { Item }&2015&2014&2013\
\text { Net Sales } & \$ 355,000 & \$ 340,000 & \$ 300,000 \
\text { Cost of Goods Sold } & 214,000 & 202,000 & 186,000\
\text { Gross Profit }&\$141,000&\$138,000&\$114,000
\end{array}$ Instructions
Compute the following for each of the above time periods. 
a. The amount and percentage change from 2013 to 2014.
b. The amount and percentage change from 2014 to 2015.

The Following Items Were Taken from the Financial Statements of Horace