Refer to Table 4-1. Using horizontal analysis, payroll taxes ______ by approximately ______ percent.

Refer to Table 4-1. Using horizontal analysis, net profit ________ by approximately ______ percent.

Refer to Table 4-1. Using a vertical analysis of January data, cost of goods sold was approximately ___ percent.

Table 4-1, Income Statement: January/February

	January	February
Total Revenues	46,062	44,759
Returns & Allowances	545	685
Net Sales	45,517	44,074
Cost of Goods Sold	13,841	11,583
Gross Profit	31,676	32,491
Operating Expenses
Officer’s Salary	2,500	2,500
Salaries	15,750	14,250
Payroll Taxes	3,623	3,278
Rent	2,000	2,000
Janitorial	150	150
Utilities	512	485
Depreciation	500	500
Sales Taxes	2,994	2,909
Total Operating Expenses	28,029	26,072
Operating Profit/Loss	3,647	6,419
Interest Expense	150	150
Net Profit/Loss	3,497	6,269