2. What can you say about the net income for the year 2020? A) Net Income has increased as a result of the increased operating profit. B) Net Income has decreased as a result of the decreased...

Extracted text: 2. What can you say about the net income for the year 2020? A) Net Income has increased as a result of the increased operating profit. B) Net Income has decreased as a result of the decreased operating profit which resulted from the increase in COGS.. C) Net income is $2,061 representing 1.3% of sales. The company has a overall decrease in profit compared to the year 2019. D) Both (B) & (C) E) None of the above 2What is the gross profit marcin for the comp over the years 2020 and 2019


Extracted text: Income Statement: The income statement of Taco Bell company is given for the years 2020 & 2019. 2020 2019 General and administrative expenses 25,000 24,000 Interest expense 1,200 1,500 Net sales $124,000 $138,000 Selling expenses 11.880 12,720 Income taxes $1,109.5 1,883 COGS 108,000 95,000 Gain on Sale of land 450 600