Brief Exercise 13-08

Vertical analysis (common-size) percentages for Cullumber Companys sales revenue, cost of goods sold, and expenses are listed here.

Vertical Analysis		2022			2021			2020
Sales revenue		100.0	%		100.0	%		100.0	%
Cost of goods sold		61.9			63.2			66.5
Expenses		25.0			27.1			28.9

Calculate Cullumbers net income as a percent of sales. (Round answers to 1 decimal place, e.g. 5.2.)

		2022		2021		2020
Net income		Enter percentages rounded to 1 decimal place.		Enter percentages rounded to 1 decimal place.		Enter percentages rounded to 1 decimal place.

Did Cullumbers net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period?

Cullumbers net income as a percent of sales

Choose the correct answer increasedremained unchangeddecreased