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Question - Artie LLC had the following income statement data for the past 3 years.
2020
2019
2018
Net Sales 300,000
Net Sales 260,000
Net Sales 250,000
Cost of Goods Sold 95,000
Cost of Goods Sold 78,000
Cost of Goods Sold 80,000
Gross Profit 205,000
Gross Profit 182,000
Gross Profit 170,000
Operating Expenses 55,000
Operating Expenses 60,000
Operating Expenses 50,000
Net income 150,000
Net Income 122,000
Net Income 120,000
Required - Perform horizontal analysis, using 2018 as the base year. (Round your answers to 2 decimal places.)
Financial Statement Analysis and Preparation
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