Business, 04.05.2021 04:30 chammusa2

The following is a summary of information presented on the financial statements of a company on December 31, 2025. Account 2025 2024 Net Sales Revenue $601,000 $504,000 Cost of Goods Sold 456,000 405,000 Gross Profit 145,000 99,000 Selling Expenses 51,000 54,000 Net Income Before Income Tax Expense 94,000 45,000 Income Tax Expense 39,000 23,000 Net Income $55,000 $22,000 With respect to gross profit, a horizontal analysis reveals . (Round your answer to two decimal places.)

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