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The following is a summary of information presented on the financial statements of a company...

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Accounting

The following is a summary of information presented on the financial statements of a company on December 31, 20X9.

Account 20X9 20X8
Net Sales Revenue $606,000 $503,000
Cost of Goods Sold 453,000 406,000
Gross Profit 153,000 97,000
Selling Expenses 52,000 50,000
Net Income Before Income Tax Expense 101,000 47,000
Income Tax Expense 37,000 24,000
Net Income $64,000 $23,000

With respect to net sales revenue, a horizontal analysis reveals

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