Sunshine Farm Supply Following Are Selected Data from the Financial Statements of Sunshine

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 results would be found through a vertical analysis of the balance sheet or the income statement of Sunshine Farm Supply?

A) Accounts receivable increased $22,000 during 2016.
B) Total assets increased $70,000 during 2016.
C) Cost of goods sold increased $50,000 or 23.8% during 2016.
D) Gross profit is 57.9% of net sales for 2016.

Correct Answer:

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