Following are selected data from the financial statements of Mother Nature Supplies: 2017 2016 Accounts receivable $ 60,000 $ 38,000 Merchandise inventory 12,000 16,000 Total assets 450,000 380,000 Net sales 380,000 270,000 Cost of goods sold 160,000 210,000 Refer to the data for Mother Nature Supplies. Which of the following results would be found through a vertical analysis of the balance sheet
or the income statement of Mother Nature Supplies?
a. Accounts receivable increased $22,000 during 2017.
b. Total assets increased $70,000 during 2017.
c. Cost of goods sold increased $50,000 or 23.8% during 2017.
d. Gross profit is 57.9% of net sales for 2017.
d
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