Selected Data from the Financial Statements Are Provided Below

Multiple Choice

Selected data from the financial statements are provided below:

-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 2020 increased to 140.74% of the 2019 amount.
B) Gross profit is 57.9% of net sales for 2020.
C) Accounts receivable is 13.3% of total assets in 2020.
D) The accounts receivable turnover ratio is 7.76 in 2020.