Selected Data from the Financial Statements Are Provided Below

Selected data from the financial statements are provided below:
Rags to Riches

-Refer to Rags to Riches. Which of the following would result from a horizontal analysis of the company's income statement?

A) Net sales in 2015 increased to 140.74% of the 2014 amount.
B) Gross profit is 57.9% of net sales for 2015.
C) Accounts receivable is 13.3% of total assets in 2015.
D) The accounts receivable turnover ratio is 7.76 in 2015.

Correct Answer:

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