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What is Trend Analysis (or Horizontal Analysis) in relation to analyzing financial statements? It refers to analyzing the internal working environment of an organization to understand how its culture was formed and how that contributes to its current cultural dynamics. It refers to reading down a single column of a financial statement to understand how specific items relate to other items in the same report. It refers to scanning the external environment to look for trends that could create strategic opportunities for an organization. It refers to the process of analyzing performance from one period to another to look for changes over time. Question 2 (1 point) Calculate the Gross Profit Margin based on these values: Sales 550,000 Cost of Goods Sold 425,000 Operating Income 26,000 Total Revenues 575,000 Net Income 14,000 1.29 39.29 1.86 22.73