Sunshine Farm Supply Following are selected data from the financial statements of Sunshine Farm Supply:
Refer to the data for Sunshine Farm Supply.
Which of the following would result from a horizontal analysis of its income statement?
A) Cost of goods sold is 42.1% of net sales for 2012.
B) Gross profit is 42.1% of net sales for 2012.
C) Cost of goods sold decreased $50,000 or 23.8% during 2012.
D) Accounts receivable total 13.3% of total assets for 2012.
Correct Answer:
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