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  3. sales$ 120,000$ 105,000$ 95,000$ 80,000cost of goo

Sales$ 120,000$ 105,000$ 95,000$ 80,000Cost of Goods Sold$ 71,000$62,500$ 53,000$ 45,000Gross Profit49.000$42,500$ 42,000$ 35,000Net Income$...

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Accounting

Sales$ 120,000$ 105,000$ 95,000$ 80,000Cost of Goods Sold$ 71,000$62,500$ 53,000$ 45,000Gross Profit49.000$42,500$ 42,000$ 35,000Net Income$ 26,500$.24,000$ 23,500$ 22,500Use the above information. Which of the following statements is not true?Select one:O a. Net income as a percentage of sales had decreased since 2001 b. Gross profit $ have increased 40% since 2001 c. Net income has increased 17.78% since 2001O d. Sales have increased 100% since 2001 e. None of the above

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