Question: Consider the following income statement data for Barolo Inc: Based on common-size analysis, which of the following statements is correct? The company's cost to sales

Consider the following income statement data for Barolo Inc: Based on common-size analysis, which of the following statements is correct? The company's cost to sales ratio improwed in 2024. Net income as a percent of sales declined in 2024. The increase in gross profit in 2024 was due to increased sales The increase in sales revenue in 2024 was caused by higher selling and administrative expenses

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