Exercise 14-3A 2019 Comparative Income Statements (Horizontal Analysis) 2018 Change in dollars Change as a percentage Sales Revenue 33.3% 150, 150.00 Cost of goods sold 600,000 $ 336,000 264.000 450,000 279,000 1,000 190,000 $7,00D 92,000 2 0.4'1. 544.1. Gross Profit Selling Expenses 105,000 + 60,000 Administrative Expenses Total Selling and Administrative 99,000 50,000 149,000 1,000 10,00D 14,00 ul. 20'1. 10.71. 115,000 i 99.000 21m 22,00 Net income before tax 350/- Income tax expense 4,000 95.000 77,600 77.00 1000 10,00 3,000 19.000 33.3-1. 4001 Net income What was Ross Company's percentage increase in Sales Revenue from 2015 to 20197 33.3.1. Would the cost of Goods Sold, the Operating Expenses, and Net Income be expected to change by the same percentage as Sales Revenue? Yes it should be 1/3 more Was the percentage increase in Cost of Goods Sold and Operating Expenses about the same as the percentage increase in Sales Revenue? How did any differences impact Net Income