BE13.9 (LO 2)Writing Horizontal analysis (trend analysis) percentages for Phoenix Company's sales revenue, cost of goods sold, and expenses are listed here. Horizontal Analysis 2020 2019 2018 Sales revenue 96.2% 104.8% 100.0% Cost of goods sold 101.0 98.0 100.0 Expenses 105.6 95.4 100.0 Explain whether Phoenix's net income increased, decreased, remained unchanged over the 3-year period