Reference no: EM133109726

Question - Presented below is selected data from the financial statements of Cycology, Inc. for the current and prior year:

	12/31/20X2	12/31/20X1
Current assets	$430,000	$220,000
Total assets	$2,500,000	$1,950,000
Current liabilities	$210,000	$180,000
Total stockholders' equity	$1,290,000	$770,000
Net sales	$4,800,000	$3,900,000
Cost of Goods Sold	$3,200,000	$2,690,000
Gross profit	$1,600,000	$1,210,000
Wages expense	$973,000	$869,000
Supplies expense	$60,000	$50,000
Depreciation expense	$35,000	$32,000
Interest expense	$12,000	$9,000
Net income	$520,000	$250,000

What the horizontal analysis of the data would show (select all that apply)?

A. Current assets in 20X2 are 17.2% of total assets.

B. Net income increased 108% from 20X1 to 20X2.

C. The current ratio for 20X2 is 2.05.

D. Cost of goods sold increased 18.96% from 20X1 to 20X2.

E. Cost of goods sold in 20X2 is 67.7% of net sales.