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Common-size and trend percentages for a company's net sales, cost of goods sold, and expenses follow: Common-Size Percentages Trend Percentages Net sales 2023 100.0%

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Common-size and trend percentages for a company's net sales, cost of goods sold, and expenses follow: Common-Size Percentages Trend Percentages Net sales 2023 100.0% 2022 100.0% 2021 2023 2022 2021 Cost of goods sold Expenses 56.4 27.0 54.3 23.6 100.0% 50.0 25.8 107.7% 106.2% 100.0% 115.4 108.1 110.7 100.0 103.4 100.0 Required: a. Calculate the profit percentage for 2021, 2022 and 2023. (Round the final answers to 2 decimal places.) Profit Percentage 2021 % 2022 2023 % % b. Determine whether the company's profit increased, decreased, or remained unchanged during this three-year period. Profit

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