Please answer with reason for all why the option is correct and why the other options are incorrect Please answer correct otherwise skip it

Consider the following income statement data for Barolo Inc.: 2024 2023 Sales revenue $97,300 $86,200 Less: Cost of goods sold 45,600 53,400 Gross profit 51,700 32,800 Less: Selling and administration 22,500 18,300 costs Net Income $29,200 $14,500 Based on common-size analysis, which of the following statements is correct? The increase in sales revenue in 2024 was caused by higher selling and administrative expenses. O Net income as a percent of sales declined in 2024. O The company's cost to sales ratio improved in 2024. The increase in gross profit in 2024 was due to increased sales