Multiple Choice
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 45.5% of net sales for 2016.
B) Gross profit is 42.1% of net sales for 2016.
C) Cost of goods sold decreased $50,000 or 23.8% during 2016.
D) Accounts receivable total 13.3% of total assets for 2016.
Correct Answer:
Verified
Correct Answer:
Verified
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